Precious metals bull market in full effect. Still in stealth mode. Strong fundamentals which I wont cover except to say that US treasury gold (\~261,500,000 ounces) will be zero trillion until spot gold reaches a price of $3,800. Once at $3,800 it will be worth 1 trillion. Foreign held treasury debt should be covered by gold at about 40%. FRED says this number is 8.5 trillion. 40% of that is 3.4 Trillion. US treasury gold will cover 3.4 trillion at a spot price of $13,000. Thus $3,000 is cheap.
https://preview.redd.it/1t9xfj4jrjoe1.jpg?width=1277&format=pjpg&auto=webp&s=5aa4674aeacbc095645ee5aa96c92296992fe5f5
Silver to gold ratio has been at 90:1 plus/minus 1 point since December 18th. It is March13th as I post this. We have been at this depressed level for almost three months. In 2022 and 2023 and 2024 the silver to gold ratio had reached and entrenched at 90:1 and each time fell to 80:1 If there is a default of physical metal at the LBMA and/or COMEX we could see the ratio drop to 80 or 70. at 80 SGR and 3,000 gold silver would be in the low 40s. What's going to happen to the SILJ and mining stocks? I'm guessing they'd rip.
Let's take a look at some silver vs gold charts.
[weekly silver:gold chart. see this time 2024 \(march\) the ratio fell from 90 to 80 that's when all the mining stocks ripped higher](https://preview.redd.it/htkq43nxqjoe1.jpg?width=720&format=pjpg&auto=webp&s=1b2c9f3865b0a3cbd1bc36e8a54f17a354619f53)
[2022 and 2023 declines to 80 from 90](https://preview.redd.it/nt0kz3nxqjoe1.jpg?width=720&format=pjpg&auto=webp&s=78598883d7f8d0866cdee02b040c868aec032cf2)
[This is current. Notice the first wick to 90 left side of the blue box that is December 18th. Silver has been pinned down here for almost three calendar months. I think it's time for a relief rally. ](https://preview.redd.it/06cxj7nxqjoe1.jpg?width=720&format=pjpg&auto=webp&s=67aa9a260a1308d1b4e585dd65a8890c6954f02b)
PSLV
Something is going on with PSLV. Volume used to never trade much above 10 million per day. Now we are trading 1x 2x 3x 4x that amount every day for the past several months.
[Before ](https://preview.redd.it/pb7s64nyrjoe1.jpg?width=720&format=pjpg&auto=webp&s=d34b5b13d427f3840bd9f7c0ffa1ac3be959c90c)
[After](https://preview.redd.it/f46i24nyrjoe1.jpg?width=720&format=pjpg&auto=webp&s=0d61aa9b436ea0db36103ea772dd407f7c5b8988)
GDX and SILJ vs XLK and Tech
https://preview.redd.it/24xt7846sjoe1.png?width=1359&format=png&auto=webp&s=d7e6a460e808d8e6c107fe30e01f042965f1f9de
[SILJ \(blue\) vs NVDA \(red\) normalized YTD - March13th 2025](https://preview.redd.it/jses3946sjoe1.png?width=960&format=png&auto=webp&s=3a68cbf2d90a0df5344ba97f58d28e150f11b355)
[GDX \(blue\) vs XLK \(red\) nomralized YTD - March 13th 2025](https://preview.redd.it/hrlk5h46sjoe1.png?width=960&format=png&auto=webp&s=bc2dd91df81ed9338921060a76d363af075a413a)
GDX internal components performance. Looking good. SILJ and GDXJ component internals charts look the same.
https://preview.redd.it/5f2cy4alsjoe1.png?width=1920&format=png&auto=webp&s=dfdb62e2eff3113c088ca0ed77ea2c0fd867a938
https://preview.redd.it/38vgd5alsjoe1.png?width=1920&format=png&auto=webp&s=e872587095db70013043efefdb51065901c6e9fe
https://preview.redd.it/43qwu7alsjoe1.png?width=1920&format=png&auto=webp&s=7d21af026c419aaee2750f8a3d350e6ee7fd9a73
Call options across various mining stocks and indexes performing well on the day.
[on days gold is up 2% and silver is up 5% and SILJ is up 10% the returns will be magnified](https://preview.redd.it/d5232abvsjoe1.jpg?width=720&format=pjpg&auto=webp&s=6f60fa8c661a1761299622d0866ea1c908b46ed7)
January 2026 and January 2027 calls (slightly out of the money) in the GDX GDXJ and SILJ is how I'm playing it.
Just this week I've seen for the first time producing and non producing silver stocks up over 20% on the day. This is a new and exciting development. Tech is due for a face ripping counter rally higher. I'd expect metals and tech to both rise but metals out performing.
YT "live from the vault kenisis" there you will find good coverage of internal developments in the global physical gold/silver systems.
Good luck out there!
PS this is the first burst this time last year from the mining stocks.
https://preview.redd.it/ut76ic5vujoe1.png?width=754&format=png&auto=webp&s=1c3fc6e8e8243c7d98bcf3402b2c2d8935951d29