Welcome to illuminati silver, we tell you
the truth about silver. Today is Sunday 17th June 2018 and we are
providing our gold and silver weekly update for the week ending 15th June.
Gold fell $19 last week from $1,298 to $1,279 having hit a high of $1,308 and a low of $1,276.
In sterling terms gold finished the week at £963 that’s down £5, and in Euros it closed
at 1,102 Euros that’s down 2 Euros on the week.
Silver fell 22 cents from $16.78 to $16.56 having hit a high of $17.30 and a low of $16.48.
In sterling terms, it closed at £12.47 that’s down 4 pence and in Euros it closed at 14.27
euros that’s up 0.01 euros. The Gold to Silver Ratio fell very slightly
from 77.35:1 to 77.23:1 The Dow Jones closed on Friday at 25,090 down
84 points on the day and down 226 points on the week; and the NASDAQ closed at 7,746 down
14 points on the day but up 101 points on the week.
Brent Crude fell $3.02 cents from $76.46 to $73.44 and US Light Crude fell 68 cents from
$65.74 to $65.06 The dollar index stands at 94.78 that’s
up a significant 1.25 on the week. Well last week was beginning to defy our logic
as we saw gold prices slowly creep up and silver prices actually rise considerably.
We re-examined our calculations reviewed trading stats, news headlines and spoke with a number
of ‘insiders’ and frankly wondered if anyone had got the message that the US not
only raised rates on Wednesday but the FED were quite hawkish in their statements; that
President Trump’s meeting with the North Korean Leader proved quite positive and that
generally there was no real pick up in physical demand to speak of. Well our bearish views
on prices were finally supported on Friday and we breathed a sigh of relief, not because
prices went down and we want to see that happen but it supported our analysis that it should
fall. The ECB declared that it was ending its quantitative Easing programme and frankly
the message hit the market that the economy was growing robustly, higher interest rates
are on the cards and that the dollar strength would continue – all negative for gold prices
and so the fall began. Silver was in our view also defying logic
as it headed towards that $17.50 level but actually reaching $17.30 and then on Friday,
like gold, lost all of its gains and fell even further. Again to be honest we wondered
what we had missed as frankly we still believe that silver should be below $16 though we
confess $16 is proving to be a most robust floor.
Now we have said for quite a while that we believe that both gold and silver will operate
within a relatively strict range and that investors should not believe the pumpers out
there telling you that their prices are going to rocket to the moon any time soon. We tell
you this to protect you our listeners. To be candid, if gold and silver prices did rise
inexorably, we will smile as we have quite a reasonable holding individually – well
in excess of 500 oz of silver and 50 oz of gold. We know that some of you have far more
than this but we operate on the basis that gold and silver are a currency hedge and protection
against equity and property crashes and so will represent somewhere between 10% – 20%
of our individual portfolios. Let’s be fair, we all love to touch gold
and silver coins and bars. We sleep comfortably in the knowledge that we have physical possession
of these items and that should an SHTF scenario occur and our currencies collapse we will
be well placed to swap our gold and silver for essentials and desirables. However we
must also not lose sight of the fact that there are gold and silver salesmen and women
out there who are painting this doomsday scenario, not to protect you, but to encourage you to
part with these worthless pieces of paper called pounds, euros and dollars and exchange
them for real money being gold and silver and yet these worthless pieces of paper they
are willing to swap for – ask yourselves why? Do you honestly believe that if the Maloney’s
and Schiff’s of this world really believed that the collapse is imminent that they would
be selling any of their stocks of gold and silver – of course they wouldn’t and so
please do not drink the Kool-Aid. By all means protect yourself and have a well
-diversified portfolio, and yes the higher the stock markets rise and the higher property
prices go, it makes sense to gradually realise those gains and reinvest in other less well
performing assets such as precious metals as their turn will come – perhaps not tomorrow
or next year but they will come and be strategic In your investment, do not over commit and
take advantage of price falls and frankly welcome them if and when they do occur.
Well next week we shall see a number of Homes sales data and weekly jobless claims being
announced on Tuesday Wednesday and Thursday and Markit Manufacturing PMI on Friday. We
believe that gold and silver still have further to fall, though there may be a slight bounce
first thing when markets open; but as an increasing interest rate scenario fully sinks in, and
as long as economic data continues to be positive, then we can see the dollar strengthening even
further and gold and silver prices fall to the sort of levels we predicted some weeks
ago. Our video on Copper which is long overdue
has been completed and we shall publish this tomorrow.
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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.