Welcome to illuminati silver, we tell you
the truth about silver. Today is Sunday 6th March 2016 and we are
providing our gold and silver update for week ending 4th March.
Gold rose in US dollar terms last week by $36 from $1222 to $1258 having been as high
as $1276 and as low as $1219. In sterling terms it rose by £2 and in Euro terms it
rose by 24 Euros. Silver rose 84 cents from $14.67 – $15.51
having reached a high of $15.73 and a low of $14.66. In sterling terms it rose by 31
pence, and in Euros it rose by 0.66 Euros. The Gold to Silver Ratio fell from 83.2:1
to 81.1:1 almost reversing the previous week’s rise.
The Dow Jones closed on Friday at 17,006 up 62 points on the day and up some 367 points
on the week, and the Nasdaq closed at 4717 up 9 for the day and up some 127 points on
the week. Brent Crude was just over $3.60 up on the week at $38.72 and US Light Crude
also up more than $3.10 at $35.92. The dollar index stands at 97.34 down just 0.76 on the
week. Well last week from Wednesday onwards saw
an appreciative rise in both gold and silver. Gold rose 2.89% on the week and silver 5.58%
making up a little lost ground from the week before. Friday’s total nonfarm payroll employment
figures showed an increase of 242,000 jobs in February, higher than an upwardly revised
172,000 in the previous month and beating market expectations of 190,000. Employment
gains occurred in health care and social assistance, retail trade, food services and drinking places,
and private educational services. Job losses continued in mining. This led to a positive
upbeat in the US Stock market and gains made on all of the world’s main Exchanges.
In addition, Last week, official figures indicated that the US economy expanded at an annualised
rate of 1% in the quarter, compared with an initial estimate of 0.7%.
The strong jobs market and improved growth outlook, together with signs that inflation
is creeping up, could prompt the Fed to raise rates in the Summer. Though such figures traditionally
would mean a strengthening of the dollar and a weakness in precious metal prices, we actually
witnessed positive movement towards gold and silver.
Part of the reason for this is that the US Commerce Department said that the gap between
exports and imports climbed to $45.7bn in January from a revised $44.7bn in December.
Exports of goods and services fell 2.1% in January to $176.5bn – the lowest since June
2011. US exporters have been hurt by a global economic slowdown and by a strong dollar that
makes US products more expensive overseas. Imports also fell 1.3% to $222.1bn – the lowest
since April 2011. This does not auger well for the FED to raise interest rates and therefore
this is reflected in all markets. An announcement in the Wall Street Journal
reported “BlackRock Inc. on Friday said it has suspended the issuance of new shares
in the roughly $8 billion iShares Gold Trust, citing a surge in demand for gold.”
Perhaps the greatest influence of all behind gold’s rise has been negative rates. The
Bank of Japan last month joined a growing number of Central Banks, including the Swiss
National Bank and the European Central Bank, when it introduced negative interest rates
in an effort to spur consumer spending. Sweden’s central bank said on Thursday it was moving
interest rates further into negative territory, and warned it could cut again. Canadian officials
are also weighing cutting borrowing costs below zero; and Federal Reserve Chairwoman
Janet Yellen said this week the U.S. Central Bank is studying the feasibility of pushing
short-term interest rates into negative territory if needed.
Until now we have seen considerable co-operation between Governments and Central Banks, however
they have moved in the past couple of weeks decisively into competitive mode again. With
Brexit a possibility in the UK, China’s economy waning, Government’s feeling the
economic pinch and investors becoming very uncertain about the equity markets, we are
seeing a flight primarily to gold and silver benefitting on the back of it.
Technical Analysts are now predicting that gold may surpass the $1300 level this week
and silver could reach $16. We do not argue with those assessments as we are witnessing
increasing demand and nervousness. We anticipated a rise last week of no more than 5% (though
silver did marginally surpass this and gold less so) and we envisaged perhaps another
small rise and then a fall back. However we are coming close to the level where we stated
that gold could be reaching that ‘bull market territory’ though silver is still $1 – $2
off that level at present. Our view, as last week is that if you are
short on these metals in your portfolio, then you should consider buying on dips, as this
‘nervousness in the markets’ have a little way left to run.
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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