If you needed any more proof that the world’s financial plumbing is cracking, this week delivered it in spades.

Let me set the scene. On Tuesday night, the President gave his State of the Union address and did what we all expected, he doubled down on tariffs as the cure for everything. This comes days after the Supreme Court, in a 6-3 ruling, declared the “Liberation Day” reciprocal tariffs unconstitutional. Gone. Wiped out. And with them, a $160 billion fiscal hole from potential refund claims. In my opinion, this is the kind of event that the mainstream financial press will underplay for weeks before the implications finally hit them between the eyes.

So what does the administration do? Pivot to Section 122 of the Trade Act of 1974: a 10% global import surcharge, scaling to 15%. No Congressional approval needed, at least not immediately. If you think this doesn’t scream “we’re making it up as we go,” I have a bridge in Panama to sell you. The markets, for once, are paying attention. Gold pushed through $5,170 an ounce this week with support holding firm at $5,050-5,090. Silver, and this is the one that should make you sit up, blew past $88 in a single session, gaining over 3% in a day. That’s not just safe-haven buying. That’s supply fear as well.

And speaking of supply, let’s talk about what’s happening in the physical market because the paper price is only half the story, and frankly, it’s the less interesting half. China has officially designated silver a strategic asset and imposed export restrictions.  The world’s largest industrial consumer of silver just told the rest of the planet: ours, not yours. 

Shanghai vault inventory has dropped to its lowest level since 2016. COMEX gold inventory, which peaked at a whopping 43.3 million ounces back in March 2025 during the tariff arbitrage frenzy, has been draining steadily ever since. The U.S. responded by adding silver to its Critical Minerals List and launching something called “Project Vault” to stockpile critical minerals. You don’t take steps like that when supply is abundant. You take steps like that when you’re scared.

Meanwhile, the Persian Gulf is heating up again. Reports of a significant U.S. military buildup and an ultimatum on Iran’s nuclear program have added what the analysts politely call a “geopolitical risk premium.” I call it what it is: war drums, and war drums are always, always good for gold.

In my opinion, we are watching the real-time unraveling of the paper metals market. When governments start hoarding, when courts blow $160 billion holes in fiscal policy, when trade wars escalate not because of strategy but because of legal defeats , that’s not an environment where you want to be holding paper promises. That’s an environment where you want to be holding the metal. Preferably somewhere outside the reach of increasingly desperate governments. Somewhere like, say, a vault in Panama as well as in your safe at home.

PLATINUM

BUY: On the Daily chart (25 February 2026) Early buy signal.

URANIUM

BUY (25 February 2026) URA.

BITCOIN AND GOLD

Bitcoin outperforms Gold  (125 February 2026).  13.42 one ounce gold coins buys one bitcoin, this was over 41 ounces almost a year ago.

ETHUSD: BUY: (18 February 2026) Very early buy signal. Worth a try. Looks like it is working.

BTCUSD: SELL: 19 January 2026.  NASDAQ (Cyan). Note the divergence from the NASDAQ. Looking oversold. Similar chart to ETH, but OBV is not strong enough yet.

GOLD AND SILVER STOCKS

12 February 2026 Gold stocks outperform gold.

Silver stocks outperform silver (30 December 2025). Just look at the volatility!

GOLD AND SILVER

Silver to Gold Ratio

Silver outperforming Gold. (25 February 2026)  Silver is coming out of the ground at about 8:1 and the Gold: Silver ratio is 57.83.

GOLD TO USD

USD outperforms Gold, (30 January 2026). Although we have a change and the signals confirm it, there are signs that this will not be long lived.

A LOOK AT THE GOLD AND SILVER CHARTS

Gold’s low of the week was $5,092.00, and the high was $5,248.00, now trading at around $5,180.00.

• Gold Monthly:  is a HOLD. We bought at $1,800.00 in October 2023.  Looking overbought, but it can hold that situation for a while. No sell signal yet.

• Gold Weekly:  (HOLD 25 August 2025)   Overbought. No sell signals yet. Looking strong.

• Gold Daily: (HOLD: 12 November 2025).  The indicators are holding.

The low for Silver this week was $83.74 and the high $91.27 trading around $86.80 at present. 

• Silver Monthly: Hold. (Buy:  $24.00 March 2024). Looking overbought. No sell signal yet.

• Silver Weekly: (SELL: 09 February 2026). If I were holding physical, I would not be releasing it at these prices. As a trade, I would follow the signal. No new buy on the indicators yet. The volatility is too great to be out of the trade. My worry is that I go to sleep on Friday at $90.00 and wake up Monday at $150.00. Bearing the fundamental picture in mind.

• Silver Daily: BUY (25 February  2026). 

Our partner has a stock of both gold, silver, and Goldbacks in our vaults available in Panama. Please contact us for more information.

A video by Mike Adams on the Goldbacks. 

Well worth a look!

On the Stockcharts.com charts, the blue vertical lines are our proprietary system buy signals and the red vertical lines are system sell signals – for information purposes only

An interview with Josh, owner of Scottsdale Mint:

Please contact us to arrange the purchase and storage of your gold and silver requirements in a safe, insured location outside of your jurisdiction.

If you are interested in an overview of Fort Kobbe, you may want to have a look at this video: Mike Brown, Director, Fort Kobbe, International Vaults, A DotCom Magazine Exclusive Interview

This is my interpretation of the market and is not to be taken as financial advice. Before making any buy or sell decisions I recommend that you consult with your professional financial advisor.