Why Gold will fall below $1300 by June 2018 Video
http://illuminatisilver.com
Why Gold will fall below $1300 by June 2018
Today is Sunday 6th May 2018 and we are discussing why we believe gold will fall into $1200 territory very soon.
Since gold peaked above $1900 in 2011 we have seen many pundits, usually gold and silver sellers, stating that it will rise even further at least to $3,000 then $5,000 then $10,000, $20,000 and according to Bill Holter even $100,000 an oz.
Well we have always been sceptical since our channel began, and the reasons are simple:
1. Gold has limited Industrial use and therefore is only worth what people perceive it to be worth.
2. Gold supply and demand is very much in cinque with one another save a hundred or so tons so why should its price sky rocket?
3. Its not in the interests of world governments or central bankers to see its price rise inexorably – at least not yet, when so many of them hold so little
4. It yields no income and other assets have been, and may continue to be for some time yet, more attractive to investors
5. Imminent financial collapse is a myth peddled by pumpers to increase sales – no serious economist, banker or Investment manager either privately or publicly believes that the world’s financial system is about to collapse any time soon, especially after the corrective actions taken since 2008.
So lets take a brief look as to why we believe short term gold prices have further to fall.
1. gold is currently languishing at the $1315 level and seems to have been operating in a range of $160 over the past year, $120 over the past 6 months and $60 over the past 3 months. These ranges becoming increasingly squeezed with gold today standing above midway between its lowest level in the past 12 months at $1207 and its highest level at $1364.
2. Generally precious metal prices rise in the first few months of the year, only to fall back again towards June, July and August and we are shortly about to enter that period.
3. Published on the 3rd May 2018, only 3 days ago, the World Council announced that Gold demand for the first quarter of this year of 973.5t was the lowest Q1 since 2008. The main cause was a fall in investment demand for gold bars and gold-backed ETFs, partly due to range-bound gold prices.
4. The FED is expected to raise Interest rates in June and possibly twice more later in the year. We are already witnessing a strengthening of the US dollar, both of which are likely to cause precious metal prices, and especially gold to fall further.
5. The most recent Gold COT Reports,– Commitment of Traders Reports published Friday show that Cot Futures Short contracts outweigh longs by 480,000 compared to 455,000 and combined futures and options show again shorts dominating with 684,000 contracts vs 657,000. Now whilst these are not definitive, they do show quite a good indication of trends and the previous week’s report shows a similar pattern. Therefore, professional investors are expecting lower prices.
So there we have it. Not one serious forecaster is predicting gold above $1510 or below $1,120 – considerably less than the $3000 or $5000 an oz we often see on the ‘Fake News Pumper channels. Our view is that gold will fall into $1200 territory very soon and almost certainly before the end of June unless of course some erroneous black swan should happen to swim into our channel.
Please view our latest videos:
Gold and Silver weekly Update – w/e 4th May 2018
https://youtu.be/A_SEV0vCz_8
World Silver Survey 2018 – Our View and Breakdown
https://youtu.be/Xv5nWrnq6q0
Will Solar Panels be the Saviour For Silver Prices?
https://youtu.be/6-LE_sQBrIE
The case for $600 Gold – unlikely but Interesting.
https://youtu.be/QGUZA63dHSA
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