Welcome to illuminati silver, we tell you
the truth about silver. Today is Sunday 19th November 2017 and we
are providing our gold and silver weekly update for the week ending 17th November.
Gold rose $18 last week from $1,276 to $1,294 having hit a high of $1,296 and a low of $1,271.
In sterling terms gold finished the week at £979 that’s up 8 pounds, and in Euros it
closed at 1,097 Euros that’s up just 1 Euro on the week.
Silver rose 41 cents from $16.90 to $17.31 having hit a high of $17.35 and a low of $16.87.
In sterling terms it closed at £13.10 that’s up 24 pence for the week and in Euros it closed
at 14.68 euros that’s up 0.16 euros. The Gold to Silver Ratio fell slightly from
75.50:1 to 74.75:1 The Dow Jones closed on Friday at 23,358 down
100 points on the day and down 64 points on the week, and the NASDAQ closed at 6,782 down
10 points on the day and up 32 points on the week.
Brent Crude fell 80 cents from $63.52 to $62.72 and US Light Crude fell 19 cents from $56.74
to $56.55 The dollar index stands at 93.66 that’s
down 0.72 on the week. The positive action last week mainly occurred
on Friday, primarily because of US Dollar weakness and a feeling that the tax cut proposals
may actually have to be watered down or could even fail. We quite frankly are unconcerned
about these short term blips as we see them as temporary, especially as inflation data
in the US is once again pointing to a rising of interest rates in December, coming in at
0.4% compared with expectations of 0.1%. Retail sales too rising by 0.2% further supports
such a move, notwithstanding the UK having already raised its rates in November.
So we see gold possibly falling back from these levels and now predict that gold will
be under $1300 by the end of the year and quite possibly close to $1200.
Silver once again copied gold but did prove slightly firmer and more bullish. We believe
that $16 – $18 is a realistic range with $15 being the potential peak low and $19 the potential
peak high. Generally unexciting but in fairness a safe environment in which to accumulate
on a regular monthly basis. As we have said in previous weeks, only political
or military issues are likely to affect gold and silver prices before Christmas though
next year we do see wider swings than we witnessed in 2017.
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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 of its owners.