Bloomberg predicts silver is back in a bear market

Bloomberg predicts silver is back in a bear market


Welcome to illuminati silver we tell you the
truth about silver. Today is Thursday 24th November 2016 and we
are looking at a report published by Bloomberg yesterday.
This is what they had to say: “After outshining all other precious metals
in the first nine months of the year, silver is now back in a bear market. Prices of the
metal slumped to a five-month low as the dollar rallied, making raw materials priced in the
greenback more expensive for holders of other currencies. Through Tuesday, investors this
month unloaded almost 384 metric tons of silver in exchange-traded funds, poised for the biggest
loss since December 2014. Silver futures for March delivery plunged
as much as 2.9 percent, before closing 1.5 percent lower at $16.485 an ounce at 1:42
p.m. on the Comex in New York. That represents a loss of more than 20 percent from a two-year
closing high reached in August, meeting the common definition of a bear market.”
So we are faced with an interesting situation. As we reported in our video of 18th November
entitled “2016 silver demand exceeds supply again” showing that 2016 is likely to see
a silver supply deficit, we are now witnessing a reduction in silver futures and substantial
ETF withdrawals. People like us who buy the physical in coin
and bar form, and often termed stackers, have purchased some 24% less than we did last year
and to see funds pulling out of ETF’s does not auger well for the short term price of
silver. We will admit, that despite the gold price
fall of recent days, silver has held up remarkably well, but if Bloomberg are correct then it
will not be long before we are well into $15 silver. As many of our subscribers have commented,
this could be an opportunity to be welcomed. At the time of this video, gold stands at
$1187 oz and silver at $16.39 oz. We shall of course be producing our weekly
update on Saturday but meanwhile, enjoy your Thanksgiving festivities and leave the fretting
to us. We hope you have found this video interesting
and informative and if so, please give it a thumb up and share it on twitter. Also kindly
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is updated daily can be found at facebook.com/illuminatisilver Disclaimer: Illuminati Silver owners come from a background
of Banking, International Wealth Management and Economics. Having now retired from these
worlds we are not qualified to give investment advice. Therefore, this and other productions
must not be deemed to be giving such advice and merely represent the personal views of
its owners.

35 Comments

  1. I love bloomberg's biased rhetoric…wasn't silver price 1 year ago $14/ounce?..compared to current $16/ounce = silver is still ^ YoY 23%!

    Bloomberg is calling a bear market based on a 20% drop from Aug'16 2-year closing high…I guess in a convoluted manipulated market you can spin it any which way you want, which is precisely the point 😉

    Thanks IS for another interesting video!

  2. I don't think $15, or even $14 silver is out of line. Lower prices means I buy a little more, gold too. I've not got enough experience with charting to tackle the call of a Bear market… I really don't think Bloomberg does either. Happy Thanksgiving to All! Be GRATEFUL for what you have, and treat it prudently!

  3. I recently ordered Privy silver Maple Leafs 2017 from a respected dealer (not sure if I can say the name on here or not), and my order was delayed 3 weeks until more Leaf's arrived. Can you imagine if they take the price down to say $12/oz. I would almost guarantee mints would suspend sales. Remember, only about 25% of yearly mine supply is available for investment. At least that's what I've read. I know for a fact over 50% of yearly mine supply is used/consumed by industry.

  4. I've pretty much reached my metals goals bullion-wise and have been focusing on semi-numismatic silver, but if silver drops below 15 all bets are off.

  5. I love bear markets for silver because I really enjoy buying the stuff.  Buying PM's seems to satisfy some kind of security instinct  which stocks can't.  And of course the beauty of the finished metal.

  6. I'll be getting a little more silver each month while spending the same amount. Good thing, too, because among other things I want, I need to finish filling a tube of silver Britannias. Darn British tubes hold 25.

  7. Have you ever noticed that market predictors always base the direction of stocks, gold, or silver on the current trend? If it's going down they'll say it'll go down even further. If it's going up they say it's going up more.

  8. Ooohh oh. Yesss. Price dump. I want to buy more King Tut coins and Cleopatra 2oz rounds. Listen up people, Provident will no longer mint the Cleopatra 2oz round after Nov 30.

  9. Stocks are shooting way and oil is down 4% and yet silver and gold have gone up today and staying up..i don't get it.?  I think silver and gold prices go up and down only when oil goes up and down and that's it it seems to me.

  10. we have had a supply deficit for the last 4 or 5 years . and the price has gone down pretty much the whole time what gives???

  11. Please explain this to the Chinese. They don't seem to understand.

    The silver price at their physical precious metals exchange is now about a $1.50 higher than the fraudulent COMEX price. Almost every night, once the Chinese markets open, precious metals move higher.

    Arbitrage due to the Shanghai Gold Exchange is draining the COMEX of both gold and silver.

  12. Bloomberg has been at the vanguard of precious metals bashing/disinformation for at least twenty years. I always do the opposite of what they recommend. I have done very well.

  13. why does everybody hate silver? i think it's a pretty metal. can't wait to get back to 14 or less!. there's nobody on the planet that can get silver cheaper than we can. it's a great break

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