#EquitiesFall #RetailSalesDown #JeffBezosFortune
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Today is Wednesday 15th April 2020 and yesterday we published a video entitled:
$1800 Gold – Is it Coming Soon?
Then on Monday we produced a video entitled:
Silver Purchase at £1.50 Over Spot – Really – How
On Sunday we also published what appears to be a more popular video entitled:
Buffet Sells Shares – Is This a Sign of Worse Things to Come?
On the 9th February of this year, we published our gold forecast for 2020 – before this disastrous global event took place and calculated that the gold price for this year would Potentially hit a low of $1400 – and a high equivalent to 2012s high of $1791 – just shy of $1800 settling at the end of the year between $1650 – $1750
2020 Gold Price Forecast – Illuminati Silver
Well since that video was published, gold has been as low as $1472 not quite hitting that $1400 mark and has been as high as $1741 and its only April.
In our silver Forecast for 2020 which was published on 21st February
2020 Silver Price Forecast – Illuminati Silver
we stated the following:
Taking all of the financial data into account, including technical analysis and factoring in potential black swans and erroneous geopolitical crisis we can see silver this year moving between a low of $15.25 – and a high of $21 with silver, providing Trump wins the election, settling at the end of the year between $18.25 – $18.50
Now this was at a time where silver stood at $18.55 and we had a lot of criticism that it was unlikely to go much lower at the time. In fact we even had 26 thumbs down compared with 302 thumbs up – one of our largest thumbs down for quite a while up until then.
Who would have thought, not even us to be fair, that silver would fall to as low as $11.66 though we have to admit it would have been almost impossible to get physical silver at that price?
So, with silver today standing at $15.47 we still have some way to go to reach that $18.50 figure let alone the $21 peak we predicted though silver has touched $18.95 since we published that video.
We have gold standing at $1721 and silver at $15.45 at the time of writing and the economic news being published by banks and Government bodies is depressing to say the least.
According to a Bloomberg article today:
U.S. retail sales and factory output posted historic declines in March, and other figures showed that the worst is yet to come.
The value of overall retail sales fell 8.7% from the prior month, the biggest decline in records dating back to 1992, according to Commerce Department data released Wednesday. Federal Reserve figures showed U.S. factory output dropped in March by the most since 1946.
But surveys in April looked even worse, with manufacturing in New York state and sentiment among U.S. homebuilders plummeting by previously unthinkable amounts.
JPMorgan Chase & Co. said in a note that it continues to expect a 40% annualized decline in gross domestic product in the second quarter.
Michael Gapen, chief U.S. economist at Barclays Plc. Told Bloomberg
“The March data is bad, but the April data is likely to be even worse because for a good half of March, things were still open,”
Following this data and remember we have the weekly job figures out tomorrow which are expected to be equally awful, the Dow is down 2.75%, the S&P 500 is down 2.6% and the Nasdaq is down 1.8%.
European markets are down even more with an average of 3% -3.5 %
The dollar has strengthened however by 0.7 and is currently just shy of that 100 mark at 99.59
Business must be bad because less than an hour ago Apple has released a budget iPhone SE priced at only $399 and that must tell us all something.
However, one major beneficiary of all of this is Jeff Bezos and it was reported by the BBC today:
The founder and boss of Amazon has seen his wealth swell by $24bn (£19bn) after soaring demand for online shopping sent the firm’s share price to a new high.
Jeff Bezos now has a fortune of $138bn, according to the Bloomberg Billionaires Index, cementing his position as the world’s richest man.
So every cloud has a silver lining – or perhaps not.
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