Gold and Silver break below important support levels

Welcome to illuminati silver, we tell you
the truth about silver. Today is Wednesday 5th September 2018 and
we are briefly commenting on yesterday’s fall in the gold and silver price.
You may recall that last week the pumpers were out stating that prices had now hit bottom
and that their only direction from here was up. Even David Morgan, the Silver Guru, publicly
declared no further downside – as if that wasn’t enough to force prices even lower.
The pumpers will tell you, buy gold and silver now – emerging market collapses mean that
those countries will pump their monies into gold and silver and cause an almighty explosion
to the upside. No, they will not – they either do not have any money left, or those
that do, are attempting to swap their currency for dollars, and may even find it necessary
to sell what gold they have. The pumpers have been blind sided yet again
and must surely be asking themselves, when is the upturn going to occur, so we can tell
our listeners “we told you so?”. On Monday we gave you our rant at these charlatans,
and yesterday, we did a slightly over the top scenario of what the Final Day of an economic
collapse could look like. Today we are being more measured. We need
this week to closely look at the economic data being announced as we highlighted last
Saturday. We have not only seen gold and silver fall in US dollar terms this week but also
in Euros and Sterling. Silver has been hit harder than gold, with the GSR standing at
84:1 as we speak; and the dollar index is 95.41.
Gold currently stands at $1,195 and silver at $14.17. Long term technical charts suggest
that $14 is a major floor or support level and possibly a turnaround position. We are
not so sure, the dollar strength in our view still has a way to go. However, having said
that, today we shall have the trade deficit figures and on Friday the Non-farm Payrolls,
so before anyone casts any prediction in stone, its worth waiting to see what is revealed.
So this week lets watch the economic data closely and then a judgement can be made based
on facts rather than gut feel, intuition or out of date charts suggesting trends which
no longer apply and are used only to serve the purpose of those who are trying to convince
you that they know what they are talking about. Have a great day.
And before we go we would just like to remind you of our last two videos which are very
important the last one being slightly tongue in cheek admittedly Financial Armageddon The
Final Day revisited, but the more important is the one we did before that which is Emerging
Market Collapse, Why are gold and silver prices affected? We strongly recommend that you listen
to that one because it will have an impact in our view for many months to come.
We hope you have found this video interesting and informative and if so, please give it
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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
its owners.

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