Welcome to illuminati silver, we tell you
the truth about silver. Today is Saturday 26th March 2016 and we are
providing our gold and silver update for week ending 24th March as the UK and US markets
were closed on 25th and re-open again on Tuesday 29th.
Gold fell in US dollar terms last week by $39 from $1255 to $1216 having been as high
as $1257 and as low as $1214. In sterling terms gold fell by £6 and in Euro’s it
fell by 24 Euros. Silver fell by 64 cents from $15.81 – $15.17
having reached a high of $15.98 and closing at its low of $15.17. In sterling terms it
fell 18 pence, and in Euros it fell by 0.44 Euros. The Gold to Silver Ratio rose from
79.4:1 to 80.2:1. The Dow Jones closed on Friday at 17,515 up
13 points on the day and down some 87 points on the week, and the NASDAQ closed at 4,773
up 5 for the day and down some 22 points on the week. Brent Crude was almost $1 down on
the week at $40.44 and US Light Crude was slightly up by 2 cents at $39.46. The dollar
index stands at 96.27 up 1.19 on the week and more than making up for last week’s
fall. Gold fell on Thursday bouncing around the
$1220 level and a number of technical analysts believe that it’s strongly supported at
the $1200 level and may well rise next week up as far as $1280. However we feel there
may indeed be consolidation at these levels as a battle between global economic concerns
and the strengthening dollar, as the FED continues to radiate hawkish tones, will continue.
Triland Metals a London-based broker and market maker, specialising in the trading of non-ferrous
metals futures said “Heavy equity prices didn’t seem to lend a spark to gold which
is telling enough,”….. It seems that gold hasn’t quite got the shine at the moment
that it did a few weeks ago and prices continue to slip modestly for now…….. “Deeper
retracement targets lay around $1,145 where the real test of the dip buying strength will
happen.” However Commerzbank holds a different opinion:
“We are therefore assuming that the decline in prices happened via the futures market.
At 337,000 contracts, the trading volume of gold was above average…… “We do not
envisage gold continuing to fall for any length of time, as the current price level will no
doubt make the metal an attractive buy”. At present we see silver continuing to move
in line with gold. One has to consider however, that should there actually be an improvement
in economic growth then this is likely to be bullish for silver. We remain unconvinced
at present and therefore do not see silver prices moving ahead of gold in terms of percentage.
One other aspect to note is that in the US, Inflation data spiked to 3% in February to
a post Lehman high. Housing, insurance, clothes, restaurants and medical bills are all rising.
It appears as though the endless rounds of money printing are finally working their way
through the system. If this is the case, then the FED’s response will eventually be to
raise interest rates which will be bearish for gold and silver.
Meanwhile we continue with our normal position: that should you be underweight in metals in
your portfolio, then you should at least consider purchasing on dips. For those who are living
in countries other than the US which are adopting negative interest rates and feel that rates
may go even lower, should bear in mind that the acquiring of gold and silver should be
considered as a hedge. We still see gold and silver falling from current levels in the
course of the coming months. 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
visit our website at www.illuminatisilver.com and look at our Facebook page which is updated
daily at www.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