A look at the Gold and Silver Charts (07.11.2024)

Thank goodness the election process and concomitant election uncertainty are now behind us. We have a run until 20 January, 2025, where so many new possibilities are ahead.

President elect Trump has so many obstacles to face in just the path to inauguration. Perhaps from prison! His survival is hugely at risk.?

Can JD Vance fill his shoes? Having watched his performance, I can more easily envision him in a successful discussion with Putin than Kamilla in a discussion with Putin.

We see the reaction of the markets to Trump’s win. Gold down, Silver down, Bitcoin up, markets up, most commodities up, USD up, and oil down.

Is the plunge protection team under Biden’s control or Trump’s control? If they collapse the system pre Trump’s inauguration it would be difficult to resurrect the stock markets and or the bond market or commodities market.

Judging by the animosity, anything is possible.

BITCOIN AND GOLD

BTC:GLD: Bitcoin outperforms gold. Trump spike evident.

ETHUSD: Hold. Let’s see if it can hold above $2,822.00

BTCUSD: Hold. ? I am not certain that Bitcoin can hold this price just because I do not see capital inflows to sustain it yet. This looks like enthusiasm for potential. Once Trump is in and we see definitive moves supporting Bitcoin I will feel more confident. Meanwhile, we just follow the signals.

GOLD AND SILVER STOCKS

Gold outperforming gold stocks.

Silver stocks outperform silver.

GOLD AND SILVER

Look at this comparison of bitcoin, gold, the S&P 500, the Nasdaq 100, and “TOTAL2,” which represents the market cap of cryptocurrencies as a whole – aside from bitcoin:

Silver to Gold Ratio

Gold is outperforming silver. Notice the Trump spike.

GOLD TO USD

USD is outperforming gold. Need I say why?

A LOOK AT THE GOLD AND SILVER CHARTS

Gold’s low of the week was $2,643.00 and the high was $2,750.00, now trading at around $2,683.00.

• 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 positive. (Chart below)
• Gold Weekly: is a hold. Gold is overbought, indicators have turned down. No sell yet. Funds are still flowing into the metal.
• Gold Daily: Sell given on Friday.

The low for Silver this week was $30.82 and the high $32.92, trading around $31.63 at present.

• Silver Monthly: Hold. Buy signal taken at $24.00 in March. Weakening. Slightly overbought. Good funds flow into the metal. (Chart below).
• Silver Weekly: Hold. Indicators have all turned negative and a hair’s breadth from a sell signal.
• Silver Daily: Sell. There is good support around $30.00.

Our partner has a 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.