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Are the Fire Clouds Descending - Markets Fall Again

2,619 views · Published 23 October 2018 · 4:44 · Indexed 10 November 2026

Channel: The 2% Brief · 2018 · People & Blogs

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Are the fire clouds descending - Markets are down

Today is Wednesday 23rd October 2018 and we are expressing our view on the markets at the moment as there have been a little movement in the last couple of days. 

Our weekend forecast predicted “We can see a further strengthening in gold and silver prices” and at the time of writing gold stands at $1,233 compared with Fridays close of $1,226 and silver stands at $14.74 compared with $14.64 at the close on Friday. Slightly firmer but nothing to shout about as yet.

What is more noticeable is that the Dow has fallen below the 25,000 level and currently stands at 24,809 more than 600 points lower than Fridays close.

The dollar index stands at 95.99 marginally stronger than Friday but weaker than yesterday.

The Saudi issue is playing its part together with China, some disappointing corporate earnings today and just a general nervousness ahead of the Interim Elections. In addition tensions with Russia are also rising in that the Kremlin said that a landmark nuclear arms treaty Washington says it wants to quit had its weak points, but that the U.S. approach of talking about leaving it without proposing a replacement was dangerous. So we can see little baby grey (not yet black) swans heading our way (Can you have a grey swan?)

However this has brought the pumper channels out in increasing numbers to say this is the beginning of the end whereas to be frank, movement in precious metals as only been modestly firmer so far. Yes we do expect more turbulence ahead and if the Dow remains below 25,000 then we could easily see it fall below 24,000 before the elections and possibly gold could stretch closer to $1300 and silver to $15 – though the former has some resistance still to break through. 

Recent opinion polls are showing that the Republicans are narrowing the Gap with regards to the House (where they were expected to lose their majority) and it does look like that they certainly will hold the Senate. Its too early to tell but a Republican victory will at least set the markets back on a positive note, at least short term so its too early to assess whether we have one more bull phase left or that markets have now peaked and only have one direction to go. 

Please remember we have quite important economic data coming out on Friday GDP for Q3 and consumer sentiment for October – which are likely to have an impact in either direction depending on the figures.

Please view our recent videos:

Gold and Silver Weekly Update - w/e 19th October 2018
https://youtu.be/_ragiRcUezE

China - Friend or Foe
https://youtu.be/HxuL6kuqIl4

Gold and Silver weekly Update – w/e 12th October 2018
https://youtu.be/7zTbGYTwK3U

Stock Market collapse – is it time to jump
https://youtu.be/Liznx3-N6V4

Is this the Predicted Economic Collapse
https://youtu.be/NmgdfAWdtTg

China Economic Collapse  -  Is The Writing on the Wall
https://youtu.be/CXuLbyfvlrg

China Economic Collapse 2018 - Is it Likely?
https://youtu.be/SmfU86CWokg

China - Bond Collapse and Tariffs - Influence on gold and silver prices
https://youtu.be/zGW5Gu7G9bo

FOMC Result and impact on Gold and Silver Prices
https://youtu.be/DtN6Gs8PfIg

WhiteHouse reaches out to China with an iron fist. 
https://youtu.be/KoWaoD8gSzI

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