Gold and Silver weekly Update – w/e 22nd June 2018

Gold and Silver weekly Update – w/e 22nd June 2018


Welcome to illuminati silver, we tell you
the truth about silver. Today is Saturday 23rd June 2018 and we are
providing our gold and silver weekly update for the week ending 22nd June.
Gold fell $10 last week from $1,279 to $1,269 having hit a high of $1,284 and a low of $1,262.
In sterling terms gold finished the week at £956 that’s down £7, and in Euros it closed
at 1,088 Euros that’s down 14 Euros on the week.
Silver fell 8 cents from $16.56 to $16.48 having hit a high of $16.63 and a low of $16.20.
In sterling terms, it closed at £12.42 that’s down 5 pence and in Euros it closed at 14.13
euros that’s down 0.13 euros. The Gold to Silver Ratio fell slightly from
77.23:1 to 77:1 The Dow Jones closed on Friday at 24, 580
up 119 points on the day and down 510 points on the week; and the NASDAQ closed at 7,692
down 20 points on the day and down 54 points on the week.
Brent Crude rose $2.11 from $73.44 to $75.55 and US Light Crude rose $3.52 from $65.06
to $68.58 The dollar index stands at 94.52 that’s
down 0.26 on the week. Gold prices continued to drift lower during
the week, reaching down towards the $1260 level, before bouncing back a little on Wednesday
and maintaining that level until the markets closed on Friday. Analysts are predicting
that prices could touch $1,250 or may even rise to $1300. Our listeners will not be surprised
to hear us believe that $1250 is the more likely, something we predicted a month ago
when everyone was looking towards $1400 as the next move forward. Trade sanction reprisals,
a difficult time for President Trump over Border issues with Mexico all added to political
woes, and frankly we should have seen gold prices move upwards especially as equity markets
fell and they did not. Professional precious metal investors are currently fatigued with
their investments and are currently looking elsewhere – thus the reduction in prices.
Of course, we believe this will correct itself in time but with further interest rate rises
still looming, we are still more bearish short term than bullish.
Silver fell 20 – 25 cents midweek but rallied again on Friday standing just 8 cents lower
at the end of the week compared to the start. As mentioned previously we believe that silver
is in a consolidation phase and we may very well see prices move between $16 – $17.50
Now to all extent and purposes recent price activity suggests that silver has a very strong
floor at the $16 level and most analysts believe that it only has to hit that $17 level again
and prices will jump quite quickly towards the $18 mark. From a fundamental view this
makes sense in that although the strengthening dollar has a negative impact on silver, a
growing robust economy has a positive influence and so whichever is stronger dictates the
price direction. We still believe that silver will dip below the $16 level but will represent
good value when it does. Our predictions and analysis can see it touching $15.50 but we
would not place any heavy bets on this as there is too much going on in the political
field to keep silver prices moderately propped up, so to speak, and it has been almost 12
months since silver fell below the $15.50 level and has tended to oscillate more or
less between that level and $17.50 since (though it did peak briefly to $18.21 last September).
This coming week: • the Consumer confidence Index for June
will be reported on Tuesday, • Durable goods orders for May will be published
on Wednesday • GDP revision for Q1 will be published
on Thursday • And core inflation and consumer spending
in May will be published on Friday. None of the above are expected to particularly
affect market movements. However, we are expecting some further moves and commentary by way of
trade tariffs especially in relation to China and possibly Canada and the EU too which may
have a slight effect. Politically, A federal judge said on Friday
he could rule as soon as the middle of next week on a request to order the U.S. government
to reunite thousands of immigrant children who were separated from their parents after
illegally crossing the Mexico-U.S. border, and this will no doubt attract headlines.
We are also receiving some info that the Mueller Investigation is about to indict another well
known political figure either this week or next. Our money is on Roger Stone whom we
thought was going to be indicted last week, and we must not forget Donald Trump Jnr either
who has, according to witnesses been at the heart of Russian meetings on more than one
occasion. In any case Mueller knows that the minute he picks on one of the Trump family,
regardless of advice, the President will immediately dismiss him, which is why Mueller is moving
slowly closer but not finally pouncing until all of his evidence is unequivocal and totally
provable. A fascinating time to be a political observer no doubt.
We hope you have found this video interesting and informative and if so, please give it
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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.

13 Comments

  1. Solid advice on the metal market as always. I would NOT bet on Mueller closing the deal on the bogus Russian collusion hunt. The proof of the FBI trying to overturn a US election is the biggest story here and Trumps patience is ending soon. Threats on his children will only make him come down harder. Remember that Trump is a scraper from NY and counter punches harder than his opponents who tend to underestimate him.

  2. Platinum is a really good investment. Not only an industrial metal being consumed but also much rarer than even gold. Its a super precious metal

  3. Just want to throw my hat in the ring for Pt. commentary. I feel it is an incredible value at these prices. Would love to hear I.S. input on PGMs. On Ag I got restless and bought roughly 1/3 of my intended accumulation for this year with spot at $16.29. I believe you are more likely to be correct in sub-$16 spot then incorrect. However I could not stand to wait any longer without at least purchasing some. I would be buying as much as possible at $15.50 for sure, should it reach that point. Thank you again for your insight.

  4. Trump is being railroaded , we are being distracted nothing will ever come of muel r investigation or he would have put up his damning evidence ,is it supposed to be a surprise ?

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