Gold Rises Above $1500 and Silver above $17 - An Explanation

Gold Demand Up - Coin & Bar Demand Down


Gold Soon to Reach its All-Time High - In Sterling That Is


Can Gold Reach $1500 in 2019?


Gold Hovers at 10 Month Highs


Welcome to illuminati Silver - Today is Wednesday 7th August 2019 and we are commenting on gold rising above $1500 and silver above $17 and the reasons why they moved so much today.

The Bank of Thailand cut rates by 25 basis points to 1.5% where markets were expecting no decrease. The Reserve Bank of New Zealand declared a 50-basis point rate cut to 1.0% whereas the market was only expecting a 25-basis point reduction. The Reserve Bank of India adopted a 35-basis point cut to 5.4%. where again only 25 basis point were expected.

These cuts sent the yield on the 10-year Treasury note — used as a benchmark for mortgage rates and auto loans — falling to a low of 1.595%, the lowest since autumn 2016. The yield on the 30-year Treasury bond bottomed around 2.12%, near its all-time low reached in 2016. Similarly rates in Germany and the United Kingdom clinched all-time lows across the board today.

Gold is significantly up today currently standing at $1503 and £1238 and silver is also up at $17.13 and £14.10. This break above $1500 gold and $17 silver is significant and we can continue to expect higher prices ahead.

Its going to be a long summer and there is a lot more to come – however rest assured, although gold and silver are indeed likely to move higher again in the coming weeks and with the EU playing tough with the British Government over BREXIT, holders of gold in the UK are benefitting for continuous all time highs almost every day.

Our predictions earlier in the year before the escapade with China turned ugly was to expect gold to perhaps top out at $1550 and silver at $17.50 for 2019. With the recent turn of events, we are still cautious as we are mindful that if the US lowers interest rates again, although it may be good for gold and silver, it will be even better for stocks. So, for now we are perhaps seeing gold topping at $1650 and Silver at $18.50 – that said, we are the first to admit, just about anything can happen and the Iran situation is also not solved as yet either.

If Trump gets his way and manages to push the FED into significant interest rate reductions via causing even more tariff havoc then one can add another $200 to gold and $4 - to silver in 2020 – but that’s for another day.

Tomorrow we shall be showing some gold and silver we purchased at our local pawn shop yesterday.

gold prices today,silver prices today,Bank of Thailand,Reserve Bank of New Zealand,Reserve Bank of India,FED interest rate cut,economic collapse,interest rate cuts,illuminati silver,dow jones plummets,china trade war,us china trade war,