Welcome to illuminati silver, we tell you
the truth about silver. Today is Friday 7th September 2018 and we
are briefly discussing what happened yesterday in the gold and silver markets and to emphasise
the importance of today’s Non-Farm Payroll Report.
Gold markets tried to rally during the trading session yesterday but found the $1,212 level
to continue to offer resistance with gold reversing its gains. However, it does look
as if the $1200 level is trying to offer some support.
However, we still maintain that dollar strength, emerging market difficulties, and the potential
trade conflict the President is threatening with Japan yesterday, will all lead to a further
strengthening of the dollar and weakening of the gold price.
At the time of writing, gold stands at $1202 but we aren’t convinced it can hold this
ground unless today’s jobs report paints a weak picture.
So, what is anticipated? Well, the headline number is expected to show the economy added
191K jobs in August. This is up from 157K in July. The Unemployment Rate is expected
to dip slightly from 3.9% to 3.8%. Average Hourly Earnings are expected to rise 0.2%,
slightly below the 0.3% increase reported last month.
If the figures are stronger i.e. less unemployment, then a further FED rate rise is likely, and
we shall see gold move down further, if the opposite is the case then the $1200 floor
may hold for a while. So what happened to silver?
Silver markets attempted to rally yesterday but fell back to its current level of $14.17
as we speak. As we have said for many months, there is no factual or fundamental argument
in favour of silver prices rising unless it is solely allied to gold rising – in other
words, short term, a weak dollar. Why is this? Because the market already knows
the level of silver demand and supply. Its aware of those industries demanding more silver
and those cutting back. Unless some revolutionary device is created which necessitates a fair
amount of silver usage and is declared overnight thereby catching traders unaware, then silver
is just going to be associated with gold for the next few months.
Some analysts are even talking about silver falling to $12. Yes $12 which is even lower
than our assessment – it would be ironic to say the least, if that we as a channel
who have been negative the price of precious metals almost since our inception (and please
note we said negative the price not negative of precious metals) and even we could potentially
be more bullish than the reality – though we are still maintaining our position that
$13 is the lowest we shall see this metal fall if it even gets that low.
We were not going to do a video today, but yesterday’s moves were interesting, and
we thought worthy of comment. By the way we have recently taken possession
of, and read, the book entitled “The Silver Bomb – The End of Paper Wealth is Upon”
Us by Michael Mac Donald and Christopher Whitestone. It was published in 2012 so it is a few years
old, but it makes a very good case as to why one should purchase silver. Now to be frank,
it’s a little hyperbolic in our view, and overstates the case a little – but in fairness
to the authors they make some very interesting points and bearing in mind the levels to which
silver prices have now fallen compared with when that books was written, could very well
be worth a read. It cost £8.61 from Amazon.co.uk and $13.95 at Amazon.com – of course the
kindle version is cheaper. If you are at all interested, then please click on the links
in the description and take a view for yourself. We enjoyed the book and certainly do not regret
buying it ourselves. As always in the interests of transparency,
if you do go ahead and purchase we will receive a small commission which will be ploughed
back into the channel. As a reminder please watch out for that Jobs
report in a few hours time. 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
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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.