Welcome to illuminati silver, we tell you
the truth about silver. Today is Sunday 29th July 2018 and we are
providing our gold and silver weekly update for the week ending 27th July.
Gold fell $9 last week from $1,232 to $1,223 having hit a high of $1,235 and a low of $1,218.
In sterling terms gold finished the week down 5 pounds at 933 pounds and in Euros it closed
at 1,049 Euros that’s down 1 Euro on the week.
Silver fell just 2 cents from $15.52 to $15.50 having hit a high of $15.66 and a low of $15.34.
In sterling terms, it closed at £11.83 that’s up 1 penny and in Euros it closed at 13.30
euros that’s up 0.06 euros. The Gold to Silver Ratio fell slightly from
79.38:1 to 78.90:1 The Dow Jones closed on Friday at 25,451 down
76 points on the day but up 393 points on the week; and the NASDAQ closed at 7,737 down
114 points on the day and down 83 points on the week.
Brent Crude rose $1.22 from $73.07 to $74.29 and US Light Crude rose 43 cents from $68.26
to $68.69 The dollar index stands at 94.66 that’s
up 0.19 on the week. Gold markets initially drifted lower at the
start of last week, recovered mid-week, drifted lower again and then rose somewhat on Friday
after the positive US GDP figures of 4.1% were announced.
Whilst this was a slightly better performance in terms of slightly higher lows than the
previous week, there is no doubt that gold prices are under pressure and seem headed
to break through what has up until now proven quite a strong floor at $1200. However we
must caution you. Whilst we believe that the FED is quite determined
to raise interest rates a couple more times this year, thereby strengthening the dollar
and lowering the price of precious metals, we must not forget the political imperative
in the US. There are already strong rumours that President
Trump is giving serious attention to a military strike in Iran, either directly or by supporting
rebels. In addition, the mid term elections due in 4 months or so are beginning to show
the Republicans possibly in trouble and if they lose the House then one can be almost
certain that the Democrats will progress towards impeachment of the President.
This turmoil will most certainly affect markets, the value of the dollar, and could prove quite
positive for gold and silver prices. However should these events not occur, then frankly,
short term, their direction will be lower – but we are the first to admit that in
a few months time we could be looking at either prices up to 10% lower than they are now or
10% or more higher than they are now. Notwithstanding the fact that Mueller might indeed make either
an announcement by the fall or most certainly in our view further indictments and we believe
to Trump family members. There is no doubt that we have repeated for
the past 2-3 months its currently all about the dollar value, and that remains so.
Silver markets once again tended to follow gold almost exactly and as we have predicted.
That said $15.50 is proving a strong floor and there is some evidence now appearing that
investors are beginning to buy again below this level. Once again, as with gold, our
view is that a rising interest rate environment will again put downward pressure on silver
prices while potential political turmoil may indeed adversely affect the dollar and assist
in the rise of precious metal prices including silver. So what is likely to affect prices this coming
week? Well on: • Tuesday we have consumer spending for
June, core inflation for June, and the consumer confidence index for July – so this is an
important day. • Wednesday we have Markit Manufacturing
PMI for July, and most important news for the week, the FOMC announcement on interest
rates. Now most economists believe that the FED will keep rates at current levels, especially
as they were raised only in June. Now whilst we tend to agree, we would not be surprised
if they added another interest rate rise in order to make clear the point that they are
determined to maintain a strong US dollar. Now although this is unlikely it would send
a very clear message to the markets. • Thursday we have the factory orders figures
for June • Friday we have the Nonfarm Payrolls Report
for July and the Trade deficit figures for June and the Markit Services PMI.
So this coming week we have a plethora of financial data and announcements, so we are
expecting some turbulence in precious metal prices this week.
Finally before we finish, our long time listeners are aware that whilst we have previously commented
on bitcoin and other crypto currencies – albeit rarely – we have not been particularly enthusiastic
– their recent fall in prices however have potentially made them attractive once again,
especially in view of certain ETF developments in the pipeline. Whilst we have advocated
that precious metal holdings should form between 10% – 20% of one’s overall investment portfolio,
we are seriously looking at diverting 2.5% of our portfolio to cryptocurrencies – highly
speculative – most certainly – but the potential gains over the next 5 years could prove quite
phenomenal and so, we regard it as perhaps a somewhat better gamble than the National
Lottery or the Local Bookmaker. We hope you have found this video interesting
and informative and if so, please give it a thumbs up and share it on twitter. Please
ensure that you have subscribed to our channel and pressed the bell sign so that you are
notified of any future videos. Also kindly visit our website at illuminatisilver.com
and if you haven’t already done so please subscribe as a free member for regular email
updates and offers. 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.