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A look at the Gold and Silver Charts (29.08.2024)

Stocks are doing Great - Gedgeye Cartoon
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The misdirection of us mere mortals by the powers that be is so significant. The tentacles of the swamp reach further and further into our pockets and into the governments of foreign countries. 

Countries that have been doing the right things for the advancement of their people are being forced to cooperate with the international community, by introducing OECD ‘norms’ into their systems.

Our attention is being misdirected by drawing attention to Trump v Harris, both controlled by the same higher authority, by the wars in Russia vs Ukraine; and Israel vs the Middle East. Controlled by the same higher authority. Chemtrails, now undisputed, weather modification, done since 1945, as well as many other distractions.

So we have taxes imposed, where there were previously none. Cross-border reporting where there was previously none. Rules and world ‘agreed’ compliance and reporting are now necessary to be able to trade. Agree or not the country chooses between compliance or black listing.

If your country is on the gray list your trade and banking become almost impossible. You will comply or die. The ‘compliance’ is being forced to have one-world compliance so that the introduction of the one-world system is easy.

Even I think I am paranoid!! Investigation and moving in various countries validates my suspicion on a daily basis.

What is the end game? Reduced population, common systems, one world government, one world currency, total control (and slavery) of every human on earth. Is this what we want?

So stocks do well in an inflationary environment, where huge amounts of cash are injected into the system in order to keep it afloat. If we ignore the peripheral events we put our market profits at risk.

BITCOIN AND GOLD

BTC:GLD below does not support BTC outperforming gold. The spike low means we watch carefully for a reversal. The indicators are not confirming the BTC buy yet.

$BTCUSD:$GOLD Bitcoin to US dollar/Gld CRYPT 29 August 2024

ETHUSD is a sell.

$ETHUSD Ethereum to US Dollar 29 August 2024

BTCUSD we have a spike low and the signals have turned down. No buy yet.

$BTCUSD Bitcoin to US dollar CRYPT 29 August 2024

GOLD AND SILVER STOCKS

Gold stocks are outperforming physical gold. This appears to be reversing. I think this will happen in the next few days.

$GOLD:$HUI Gold- Continuous Contract (EOD) Gold Bugs Index - NYSE- 29 August 2024

Silver outperforms Silver stocks.

$SILVER - SIL Silver- Continuous Contract (EOD) Global X Silver Miners ETF 29 August 2024

GOLD AND SILVER

Silver to Gold Ratio > Silver now outperforms gold.

$GOLD:$SILVER Gold Continuous Contract - (EOD) Silver - continuous 29 August 2024

GOLD TO USD

Gold is now outperforming the USD. Indications are for a turnaround.

$GOLD Gold vs USD - Continuous Contract (EOD)- CME 29 August 2024

A LOOK AT THE GOLD AND SILVER CHARTS

TodayLast Week
Gold Price$2,524.00$2,482.00
Silver Price$29.50$29.07
Gold:Silver ratio85.66:185.36:1
Gold Miners bullish percent index78.5782.14
Dollar Index101.32101.59
Dow:Gold Ratio (BahaUS 41,354.00 Gold price, $2,524.00 )16.3816.37
Current USA inflation rate (Dept. of Statistics)2.9%3.0%

Gold’s low of the week was $2,493.00 and the high was $2,528.00, now trading at around $2,525.00. 

The Gold Miners Bullish Percent Index is 78.57.

  • The monthly chart for Gold is a hold. We bought in at $1,800.00 in October ‘23 and have held it to date. It looks overbought but the indicators are mainly positive. (Chart below).
  • The weekly chart is a hold. Money is still flowing into gold. 
  • The daily chart is a hold.

$GOLD Gold - Continuous Contract (EOD) CME0 29 August 2024

The low for Silver this week was $29.07 and the high $30.18, trading around $29.51 at present.

  • Silver on the monthly chart indicates a hold.The signals look neutral to down, but no definitive sell yet. The flow of funds into the metal is diminishing.  (Chart below).
  • The silver weekly chart position is out. The price has recovered above support. Although it looks positive I do not have all indicators in positive territory. 
  • The silver daily chart indicates buy. It has recovered the above support.

$SILVER Silver - Continuous Contract (EOD) CME 29 August 2024

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

Goldback-official-distributor

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

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.

Larry Simon
Larry Simon

Larry Simon was educated at the University of Witwatersrand, Johannesburg, South Africa and is an experienced businessman specialised in management, investment and finance.

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