A look at the Gold and Silver Charts (03.10.2024)

With all the turmoil in the world at present, geopolitical risk is off the charts and as a result currencies, including the dollar, are weakening to an extent that governments can no longer preserve the value of their currencies.

This means we will palpably see commodities, as well as other prices, rise.

We all understand that this is the result of unrestrained money printing by the FED. Why are neither the presidential candidates nor their vice partners being asked relevant economic FED related questions about the economy. Why is spending not being reined in?

Measures against perceived currency devaluation, such as issuing paper contracts against real, tangible metals, is rampant.

If one goes to “US Debt Clock” one sees in the bottom right block that;

• The 5 year dollar to gold ratio is $12,579.00 per ounce
• The 10 year dollar to gold ratio is $9,314.00 per ounce
• The 5 year silver to dollar ratio is $1,555.00 per ounce
• The 10 year silver to dollar ratio is $1,119.00 per ounce
• The paper contract to gold ratio is 130.29:1
• The paper contract to silver ratio is 407.11:1

The 1913 comparative numbers have been removed from the table. In my opinion because the comparisons are too scary to contemplate and show the extent of the devaluation of the dollar particularly.

So if one were to stand for delivery of one’s gold or silver, contract in hand, there would only be enough gold to deliver to one in 140 contracts and for silver one in 407 contracts.

That would be a disaster for contract holders, BUT the exchange has given itself an out by allowing itself the option of paying out in ‘cash’.?

So they prolong the operation of the casino and undermine the contract holders.

I foresee more pressure on the average person to pay unreasonable taxes, (I am thinking tax on unearned income). Unreasonable implementation of stupid laws where fines of huge proportions can be levied, seatbelts, phones, parking, speeding, licenses, vehicle registrations, late filings and I am certain hundreds more that I have not thought of. Governments need more money. Those that can print. The rest will steal it from their populations.

Stagflation, reduced tax receipts for governments, economic malaise, and political turmoil will be the result of these policies.??

War is the universal cover for failing financial systems. I wonder why we see war breaking out all over and more countries being sucked into the conflagration?

Politicians and the FED deflect blame to the private sector, which in most cases is the victim of the profligate spending of the politicians and reckless printing by the FED. Price controls are threatened and may well be implemented even though the politicians know now that they cause scarcity and do not work.

We are living through fascinating times. The investing landscape changes from minute to minute.

BITCOIN AND GOLD

BTC:GLD: Gold outperforms Bitcoin.

ETHUSD? Sell.

BTCUSD: Sell. Compared to Nasdaq (Cyan). They have quite a close correlation. The Nasdaq is in hold but close to a sell on our system. (Bitcoin Red and black candles)

GOLD AND SILVER STOCKS

Gold is outperforming gold stocks.

Silver outperforms silver stocks.

GOLD AND SILVER

Silver to Gold Ratio

Silver is outperforming gold. The gold is turning but no change so far.

GOLD TO USD

USD is outperforming Gold.

A LOOK AT THE GOLD AND SILVER CHARTS

Gold’s low of the week was $2,624.00 and the high was $2,673.00, now trading at around $2,650.00.

• Gold Monthly:? 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.?
• Gold Weekly: is a hold. Money is still flowing into gold. (Chart below).
• Gold Daily: is a sell. This is a difficult call because of the international turmoil, but we follow the system. We can easily buy back in.

The low for Silver this week was $30.88 and the high $32.30, trading around $31.55 at present.

• Silver Monthly: Hold. Buy signal taken at $24.00 in March.
• Silver Weekly: Hold. Indicators looking positive. (Chart below)
• Silver Daily: Hold.

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

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