My fear for the US economy, and, as a result the world economy, is that most countries have borrowed far more than they can afford, and they cannot afford to reduce or pay back the debt. I feel that the confidence built in the dollar over decades is being destroyed day by day.
A week ago I read that gold is now a bigger reserve holding than dollars, although Chat GPT says that dollars amount to 57.13% reserve holdings. Apparently both are correct depending on the measurement base. At $6,500.00 Gold would be the undisputed leader.
America has an enormous debt/deficit crisis. Nations no longer see the dollar or US treasuries as safe-haven investments. The credibility of the US on the world stage is now viewed with suspicion. As a result of on again off again policies, the US bond market is under stress. Interference in the bond market in order to manipulate rates further erodes confidence in the market. The statistics regarding the economy are looking worse each cycle. As a result, US global influence is waning. New alliances excluding the US are being formed. The wars are not helping.
The CBO projects for the end of 2026
- $1.0 trillion net interest expense
- 5.8% of GDP deficit
- 101% of GDP debt held by the public
- $1 trillion net interest expense (if they can hold interest rates and borrowing down)
- Interest expense rising to $2 trillion by 2036
- Debt held by the public going to 120% of GDP by 2036
US dominance was predicated on stability. A strong currency. Protection of the value of the currency. A strong liquid Treasury. A strong, reliable system of law. A strong military and a navy that could protect shipping. Strong capital markets. Trust that these structures would be sustained.
If the above is falling apart or even perceived to be so then confidence wanes.
The question becomes: Is the market setting interest rates or is government interference influencing the rates?
In investment terms, the dollar and its derivatives begin to devalue. The upward trajectory of the stock market is driven by investors trying to protect themselves from the usually inflationary results of the actions that government/treasury take that they feel are necessary to save the economy. Sadly, the run up at this stage generally has fairly short legs.
I have had a hard time looking for protection from this onslaught and see little other than in physical precious metals and slightly more risky and certainly more profitable, initially, the gold and silver stocks. Unfortunately stocks and the metals usually take a hiding in the first phase of a market ‘correction’. This is usually temporary as they are easily sold to cover losses and margin calls, they then usually recover.
Along with economic disaster, we get a debt crisis, followed by monetary (currency) intervention, followed by currency debasement, all positive for gold. Silver too.
Also, with sunshine and roses, debt remains enormous. Governments cannot repay the debt, so the currency is inflated by printing more; inflation becomes endemic, real assets become attractive, positive for gold. Silver too.
The global financial system has accumulated a level of debt that makes conventional normalization increasingly difficult. The more governments intervene to prevent a debt-driven crisis, the greater the risk that they preserve the nominal system at the expense of the real purchasing power of its currencies. If the authorities successfully prevent the bond market from collapsing, they may ultimately make the case for gold stronger.
PLATINUM
HOLD: On the Daily chart (06 July 2026). Showing signs of weakness.
URANIUM
HOLD (03 August 2026) URA.
BITCOIN AND GOLD
Bitcoin outperforms Gold (19 August 2026). 17.0 One ounce gold coins buy one Bitcoin; this was over 41 ounces in August 2025.
ETHUSD: HOLD: ( 11 June 2026)
BTCUSD: HOLD: 17 August 2026. NASDAQ (Cyan).
GOLD AND SILVER STOCKS
22 July 2026 Gold stocks outperform gold. An excellent indicator for the gold price to rise as well. Looks like it is turning.
Silver stocks outperform silver (03 August 2026).
GOLD AND SILVER
Silver to Gold Ratio
Silver outperforming Gold. (22 July 2026) Silver is coming out of the ground at about 8:1 and the Gold: Silver ratio is 67.47:1.
GOLD TO USD
Gold outperforms USD, (04 July 2026). Signs of it turning.
Copper (HOLD 22 July 2026)
GOLD AND SILVER CHARTS
| Today | Last Week | |
|---|---|---|
| Gold Price | $4,572.00 | $4,472.00 |
| Silver Price | $67.94 | $66.82 |
| Gold:Silver ratio | 67.24:1 | 66.91:1 |
| Gold Miners bullish percent index | 67.57 | 60.81 |
| Dollar Index | 99.14 | 98.77 |
| Dow:Gold Ratio (BahaUS 53,454.00 Gold price, 4,572.00) | 11.69 | 11.88 |
| Current USA inflation rate (Dept. of Statistics) | 3.4% | 3.5% |
| Mannarino Market Index | 287.0 | 288.0 |
| Buffet Index -strongly overvalued markets 2.1 standard deviations above normal | 195% | 195% |
| 10 Year Yield | 4.66% | 4.70% |
Gold’s low of the week was $4,565.00, and the high was $4,697.00, now trading at around $4,576.00.
- Gold Monthly: is an OUT. (25 March 2026). Looking more positive. Signals turning positive
- Gold Weekly: (HOLD: 13 August 2026) A very early buy signal.
- Gold Daily: (HOLD 6 July 2026). Looking a little weak this week.
The low for Silver this week was $67.43 and the high $69.94, trading around $68.14 at present.
- Silver Monthly: (OUT: 20260430. ( Buy $24.00 in March 2024 to Sell May 2026 $73.13 = 204% Gain in 2 years 2 months). A couple of indicators are pointing up. No buy yet.
- Silver Weekly: (HOLD: 20 August 2026). A little weaker. No sell signals.
- Silver Daily: HOLD (22 July 2026). A little weaker this week. No sell signals.
Fort Kobbe International Vaults provides secure storage services only and does not buy, sell, broker, recommend, or act as an intermediary in precious metals transactions.
Clients who request an introduction to an independent precious metals supplier may contact our preferred partners by clicking here.
Any purchase or sale is conducted solely between the client and the selected supplier.
A video by Mike Adams on the Goldbacks. Well worth a look. watch here
On the Stockcharts.com charts above, 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: watch here
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.
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