Gold and Silver Update w/e 23rd December 2016

Welcome to illuminati silver, we tell you
the truth about silver. Today is Saturday 24th December 2016 and we
are providing our gold and silver weekly update for the week ending 23rd December.
Gold fell in US dollar terms last week by just $1 from $1134 to $1133, having hit a
high of $1142 and a low of $1126. In sterling terms gold finished the week at £922 that’s
up £15, and in Euros it closed at 1083 Euros that’s down 2 Euros on the week.
Silver fell 32 cents from $16.10 to $15.78 having reached a high of $16.21 and a low
of $15.64. In sterling terms it closed at £12.84 that’s down just 4 pence for the
week and in Euros it closed at 15.09 euros that’s down 0.31 Euros.
The Gold to Silver Ratio rose from 70.43:1 to 71.8:1
The Dow Jones closed on Friday at 19,933 up 14 points on the day and up 90 points on the
week, and the NASDAQ closed at 5462 up 15 points on the day and up 25 points on the
week. Brent Crude was down just 5 cents at $55.16
and US Light Crude was up $1.12 at $53.02 The dollar index stands at 103.01 that’s
up 0.06 on the week. We ended last week’s video with the words:
“Next week, we see additional downward pressure on both gold and silver prices, though attempted
rallies are expected; however with most of the news out of the way, any demise is likely
to be gradual.” This is essentially what occurred; finally
Gold markets rallied slightly on Friday as the market continues to grind back and forth.
The $1125 level continues to be supported, and a short term bounce is possible. Traders
are currently stating that if this happens they will use it as a selling opportunity
as the view in the trading rooms is that gold will fall below the $1100 level and into mid
$1000 territory very soon. Technically speaking, Gold prices flat lined
ahead of the long holiday weekend as volume was thin, and prices stable. Resistance on
gold is seen near the 10-day moving average at 1,138, while support is seen near the July
2015 lows at 1,076. Momentum is neutral with the MACD (moving average convergence divergence)
index standing near the zero index level with a flat trajectory which reflects consolidation.
Like gold, Silver markets tried to rally on Friday also, but turned around and formed
a shooting star like candle. It looks as if the market is going to continue to grind lower,
perhaps reaching towards the $15 level at which point it is likely to be supported for
a while. Again similar to gold, traders are advocating that any rally will present an
opportunity to sell, and so we should still expect rather bearish performance for a while
with a few exceptional days amongst the trend. Next week’s trading is likely to be thin
and so any movements can be exaggerated both to the up and the downside. We foresee primarily
a week of consolidation with prices perhaps rising slightly initially but continuing their
bearish trend into 2017. We shall be producing our 2017 price forecast next week in which
we shall go into greater depth. We hope you have found this video interesting
and informative and if so, please give it a thumb up and share it on twitter. Also kindly
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is updated daily can be found at 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

24 thoughts on “Gold and Silver Update w/e 23rd December 2016

  1. According to Andy Hoffman, 75% of all silver production is eaten up by industrial demand. This fact, if true, makes me even more bullish on Silver as an investment and/or storage of wealth. Silver will stay on sale until it isn't possible to suppress its paper future contract price anymore. I'm guessing that day is rapidly approaching. Buy physical while you still can is my motto for myself. In the age of information, These prices can't and won't last forever.

  2. Free silver! Here's a Christmas gift to newbie stackers: Find somebody who deals in cash and offer to swap out old silver coins. I did this with my mother who was head teller at a bank. Each day she had to check the cash drawers and I convinced her to make the swap. Sure it's tedious, but she had to count the drawers anyway and it was easy to see the new, clad coins and ignore them. I managed a grocery and made the same swap. As long as the accounting was good, the boss was happy and tolerated my little foible. To this day half my silver is "junk" that I got for free. Merry Christmas to the IS family.

  3. With the Ag to Au being 71 to 1…
    Note the currency price of PM is more indicative of the strength/value of the currency being utilized to purchase PM. Watch, for example, as the USD Index rises, the fewer USD's one will pay with that currency for Au/Ag, as the USD Index drops (weaker dollar), it will require more USD/FRN's to acquire Au/Ag.
    Do not be mis-lead, one can not equate any amount of currency to weights in Au/Ag. This is a Truth. Gold and Silver hold an intrinsic value that no amount of fiat currencies has/does or ever will.
    Listen to all, follow none.
    Think well, be well.

  4. Lots of negative disinformation regarding pm's coming out of Wall Street. Meanwhile JP Morgan is shorting on the Comex and buying physical to the tune of 550 million ounces. Curious wouldnt you say

  5. Thanks for the great videos IS ! Metals performance (my personal stack/stocks) has been good for 2016. A mix of bars, govt coins, semi-numismatics, Silver miners, Gold miners, Copper miners, paper Palladium (sold it…I feel Auto sales will fall soon). Diversity has really helped me this year. I didn't do as well in 2015 with just bars and coins (while listening to the Dumpers). Who knows what will play out in the future, but I plan to adjust, if need be.

  6. I have noticed that there is a bit of a strange trend going on with gold contract average volumes reaching ever higher highs since 2009. Silver volumes seem to undulate in a horizontal sine wave but gold's volume sine wave is undulating higher and higher. The high volume peaks tend to correlate with severe downturns in price rather than increases in price.

  7. Some of these bullion dealers are hardly lowering their prices on certain items. Especially poured silver. If you want something special, pay that special price too. I'll keep waiting. This is very interesting to watch.

  8. Thanks for the 'reality' for cast IS. I suspect the singing of silver and gold to continue well in to Mr Trump's first 100 days.

  9. I don't celebrate Xmas (no religious nonsense with this lil black duck); Will however wish you a pleasant holiday and express thanks for another year of enlightenment about a helluvalota obscure things. First up for me each day is a ritual check of the inbox to see what you and the crew have produced and published online. Always interested to glean more from this trusted source! Thrilled actually to have been among the earliest of I.S. subscribers and hope you'll find space for me, edge of the circle maybe(?) next year. Reluctantly viewed your Christmas poem btw … So glad I did 🙂

  10. Another great update I.S….. most appreciated.
    Perhaps you may enjoy sharing another sweet silver acquisition with us (like that gorgeous 1KG Proof Nelson Mandela Commemorative Medal) What a sweet find Man!

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