Welcome to illuminati silver, we tell you
the truth about silver. Today is Sunday 8th April 2018 and we are
providing our gold and silver weekly update for the week ending 6th April.
Gold rose $13 last week from $1,320 to $1,333 having hit a high of $1,347 and a low of $1,320.
In sterling terms gold finished the week at £945 that’s up £3, and in Euros it closed
at 1,085 Euros that’s up 13 Euros on the week.
Silver rose 2 cents from $16.37 to $16.39 having hit a high of $16.67 and a low of $16.22.
In sterling terms it closed at £11.63 that’s down 5 pence and in Euros it closed at 13.34
euros that’s up 0.06 euros. The Gold to Silver Ratio rose from 80.63:1
to 81.33:1 The Dow Jones closed on Friday at 23,932 down
572 points on the day and down 171 points on the week; and the NASDAQ closed at 6,915
down 161 points on the day and down 148 points on the week.
Brent Crude fell $2.23 from $69.34 to $67.11 and US Light Crude fell $2.88 from $64.94
to $62.06 The dollar index stands at 90.10 that’s
up 0.13 on the week. Gold initially rose last week, then fell back,
then rose again then fell back and finally rose on Friday primarily because of poor jobs
data and further trade tensions with China; with both China and President Trump ‘upping
the ante’ in terms of proposed trade sanctions. This was the very thing we warned about last
week where we stated: “So this coming week may very well see a
continuation of gold’s descent unless any of these situations reverse, or that there
is some form of major retaliation to proposed tariffs on imports.”
Now there have been many critics of President Trump’s announcements and also a number
claiming it’s a clever negotiating tactic prior to trade talks with China – the conclusion
of which we shall just have to wait and see. Stock markets though reacted badly on Friday
with the Dow falling more than 2%, thereby making gold a more attractive prospect short
term. Equally with the jobs data coming in at 103,000 new jobs last month against an
expected 193,000 this has tempered the prospect of rising interest rates thereby once again
proving attractive for gold. What was noticeable however was that the previous highs were not
reached and so we have to put these gains into perspective and perhaps not be too carried
away with them as they can easily be reversed and dramatically, should China and the US
reach an appropriate trade agreement. Once again silver moved similarly to gold
but perhaps just a little weaker thus the slight rise In the GSR. There is little at
the moment going on to cause either a major rise or fall in silver prices save political
issues and the rise or fall of the US dollar and therefore we repeat our predictions of
last week in that it is likely to remain range bound for a while.
A matter which must be borne in mind by all of us is the increasing tension with Russia.
A chemical attack in Syria over this weekend has prompted harsh words from the US and around
the world and even President Trump who has been somewhat reluctant to criticise Russia
has, in recent days, become more vocal. 2 weeks ago we said be careful of John Bolton
the new National Security Adviser who, as it happens, take his formal position with
effect from tomorrow. Bolton is highly critical of Iran and it hasn’t gone unnoticed that
Iran also received the mire of the President in his tweets this weekend. In other words
what we are suggesting is that we could very well see political tensions increasing and
therefore more turmoil in the equity markets which would prove good for gold and silver
prices. So the balance to weigh up is potentially
successful talks with China over trade which will deflate gold and silver, or a failure
of such talks and increasing tensions with Iran and Russia which could inflate gold and
silver prices. Either way these next 2 weeks will prove most interesting.
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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.