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GoldSilverWeek 4.-8.9.23

From the Heraeus Weekly Bulletin:


Hong Kong gold jewelry sales are picking up again as tourists return. Tourists are once again flocking to Hong Kong, which is a major jewelry shopping destination. July saw the largest influx of visitors since Covid restrictions were lifted, with nearly 3 million visitors from mainland China. In July, sales of jewelry and watches, which are mainly sold to mainland tourists, rose 19.8% year-on-year. In the first seven months of the year, mainland Chinese tourist arrivals to Hong Kong exceeded 13 million visitors. That's still well below pre-pandemic numbers, but it's helping boost sales. Chow Tai Fook, one of the largest jewelry retailers, reported a 37% increase in sales of gold jewelry and gold products in Hong Kong and Macau in the second quarter of 2023, while sales in mainland China fell by 1%. Gold jewelry demand in China and Hong Kong was 345t in the first half of 2023, up 19% year-on-year (source: World Gold Council). In order to exceed the volume of the previous year, however, the economic situation must remain stable.

Gold prices in US dollars rose again last week, reaching a high of $1,953/ounce. In Japan, gold hit a new all-time high last week as the yen continued to weaken against the dollar. Gold traded above ¥9,140/g last week before settling around ¥9,000/g late Friday afternoon.


The increase in smartphone sales in India this year may not be enough to boost silver demand from the electronics industry. The Indian market accounts for about 12% of global smartphone sales, about half the size of the Chinese market. In the second quarter of 2023, smartphone sales in India increased by 10% compared to the first quarter (source: IDC). In China, sales rose only slightly by 2%, but the economic outlook for China is less positive given the continued weakness in the property market. In contrast, India is the fastest growing major economy according to forecasts for GDP growth this year and growth is expected to pick up again next year. Other regions of the world saw declining smartphone sales in the second quarter of 2023. Demand for silver from the electrical industry was 231 million ounces (excluding photovoltaic) in 2022, representing approximately 19% of total demand (source: The Silver Institute).

Silver tested a 10-year resistance level last week but failed to break to the upside. Silver then closed last week just slightly higher at $24.22/oz.


Trust comment:

The silver trust inventory increased last week to 222,165.89 grams.

The gold stock has remained the same.

For the gold and silver stackers who are interested in the latest chart developments, here are the charts from the weekend (!), which have already been confirmed today. (Today's weekly candle is missing because the chart part was written yesterday, but is still up to date.

Last week we posted this chart, which repeatedly expresses the hopes of silver stackers:

Nevertheless, unfortunately, the hopes of the goldsilver bulls have not yet been fulfilled in the short term.

Silver once again failed to break through resistance and appears to be turning lower again.

So far, the gold/silver ratio has not fallen as hoped by the silver community, but has turned around again at the lower limit.

DXY seems to be heading higher, could break to the upside this week or else fall back down.

Since our call in mid-July, the DXY has only gone up, which has been accompanied by falling gold prices. We'll see how the DXY fares this week.

Gold has only been down since early May and also tested above resistance last week before turning back down.

Until the Ephraim case is finally resolved, we could still see gold and silver prices continue to fall, giving us an opportunity for the absolute best and last buy, although gold is surprisingly stable to date despite the hostile debt money environment.

The resolution of the legal case surrounding Ephraim and the community of heirs of Jacob will be accompanied by an honest evaluation of gold and silver and their explosion in purchasing power.

This can go faster than expected, since we are working tirelessly with our Jewish brothers at the same time to put pressure on compliance with secular and secular laws, especially in Germany. More announcements coming soon, and more on

As far as the silver community's long-awaited outbreak of silver is concerned, this has not been canceled, but only postponed for a short time.

When day X is just around the corner and the great and terrible day of the Lord finally comes, your own gold and silver inventory will be fixed for the time being. So everyone already decides for themselves how much gold and silver they want to enter the kingdom with and should swap regularly in order to share in the average price.

You can get our new numbered 777.5g silver bars here:

Shavuot Special Edition Sanhedrin:

You can find our 1 gram GoldCard here:

You will find the real highlight of our offer in our Trust_Exchange, where you can buy gold and silver-covered certificates at the absolute best price without having the classic storage problem.

Each certificate is individually covered by us with one gram of silver or gold, which is held in our own LBMA account. Each certificate can be traded in our own trading system and company certificates are also available.

The price of the silver and gold-backed certificates is unbeatable.

You can easily and quickly join the Ephraim National Gold & Silver Trust:

You can gain access to the trust for a one-off membership payment of 100 euros with the Ephi-Card as a prerequisite for access. So make sure that the TrustAccount is only for EphiCard holders.

If you don't have an Ephi ID card yet, you can take out one here together with the trust account for an additional 100 euros for the Ephi card.

Check out the TempleCoin Shop for more exciting products .

The Trust wishes you a nice time to prepare for Sukkot! Shalom.

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