Welcome to illuminati silver, we tell you
the truth about silver. Today is Wednesday 22nd August 2018 and we
are reporting on the FOMC Minutes just announced and what they suggest for silver prices.
In our weekly round-up last Saturday we pointed out that on Wednesday we have the FOMC minutes
supporting the FED meeting on 31st July and 1st August – and this should provide an
insight into how close the next interest rate rise is likely to be.
Well here are the key highlights from Reuters: 1 The Labour market has Continued to strengthen
2 Escalating trade tensions between China and the US has affected foreign exchange markets
3 Global equity prices received some support from positive agreements between the US and
the EU 4 Indicators of longer-term inflation expectations
are little changed 5 Trade policies could have a negative effect
on economic growth 6 Risks to the economic outlook appear roughly
balanced 7 Further gradual increases in the target
range for the federal funds rate will be consistent with the sustained expansion of economic activity,
strong labour market conditions and an inflation objective of 2%
The conclusion from this is that their original forecasts more or less remain unchanged and
members see another rate hike likely very soon. On this news, Gold rose from $1,195/oz
to $1,199 after the Fed’s minutes supported by a slide of the US dollar across the board.
The decline so far has been modest and gold failed to break the $1,200 barrier. It currently
stands at $1195 as we produce this video. The dollar index currently stands at 95.07
compared with 96.10 on the weekend and silver stands at $14.75 compared with $14.80 on Friday’s
close. Now this past week has seen appalling news
for President Trump with both Manafort being found guilty on 8 counts and Cohen pleading
guilty to criminal charges with threats of more to reveal about the President.
So despite bad political news, a weakening dollar and the FED frankly stating nothing
that wasn’t expected, the reaction in the gold and silver price has been somewhat poor
to say the least. This suggests at first glance at least, that prices may indeed go lower
and very soon. It will be some weeks before more revelations are likely, and traders may
indeed fear an interest rate rise in September. So, unless something happens over the next
couple of days in relation to the FED’s minutes, then we could very well see lower
prices in the weeks to come. Naturally we shall have a better idea by the weekend, but
we wanted to update you with the important news for the week. Finally, we would like to thank you for supporting
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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