Welcome to illuminati silver, we tell you the truth about silver.
Today is Sunday 4th February 2018 and we are providing our gold and silver weekly update
for the week ending 2nd February 2018.
Gold fell $18 from $1,351 to $1,333 having hit a high of $1,351 and a low of $1,328.
In sterling terms gold finished the week at £944 that’s down £10, and in Euros it
closed at 1,070 Euros that’s down 17 Euros on the week.
Silver fell 82 cents from $17.42 to $16.60 having hit a high of $17.46 and a low of $16.57.
In sterling terms it closed at £11.76 that’s down 54 pence and in Euros it closed at 13.33
euros that’s down 0.69 euros.
The Gold to Silver Ratio rose substantially from 77.55:1 to 80.30:1
The Dow Jones closed on Friday at 25,520 down 665 points on the day and down 1096 points
on the week, and the NASDAQ closed at 7,240 down 144 points on the day and down 265 points
on the week.
Brent Crude fell $1.94 from $70.52 to $68.58 and US Light Crude fell 69 cents from $66.14
to $65.45 The dollar index stands at 89.19 that’s
up 0.13 on the week.
Last week, as we stated in our previous report, revealed a number of influences which could
have, and in fact did, affect gold and silver prices.
Gold prices were volatile, falling and rising at least 4 significant times during the week.
Overall a mixture of a hawkish FED announcement on Wednesday, possibly suggesting 4 interest
rate hikes in 2018 certainly took its toll.
A strengthening dollar and higher 10 year Treasury notes and 30 year Treasury Bond yields
had a downward impact on gold.
The significant fall in the Dow limited gold’s sharp decline on Friday after extremely positive
Non-farm payroll figures for January of 200,000 new jobs, up from the anticipated 180,000,
suggested higher interest rates afoot.
Technical analysts are suggesting that should gold prices fall below $1,329 then they may
trend down toward $1,306 and if they fall below that we may very well see gold around
$1250.
Alternatively they suggest that should gold breach $1349 then it will meet the next resistance
point at $1354 and any upward move from there will suggest an upward trend which could indeed
surpass $1400.
Silver generally has moved more or less in line with gold with the economic data on Friday
significantly affecting its price.
Silver has once again declined relative to gold providing a GSR just above 80.
We all know that in comparison with one another, above 80 tends to suggest a revaluation in
silver’s favour in the near future.
That said, should stock markets rise while the US dollar strengthens this week, both
of which are likely, then we see further downward pressure on both gold and silver prices.
However, should investors panic and pull out more funds from the equity markets then of
course both gold and silver will be beneficiaries of such a move.
We believe that 2018 will be a turning point for gold and silver prices, especially later
in the year.
Meanwhile, we have to try and ascertain as to whether now is the time to buy or should
we wait a little longer.
Our position has been constant.
If you are underweight in your physical gold and silver portfolio then buy regularly, especially
during price falls but don’t go ‘all in at once’.
For the past 3 years we have said, there is not going to be an explosion in gold and silver
prices for a number of years and so far we have been right.
Volatility absolutely, but no serious significant move, and there have been a number of economic
and political factors which could have influenced prices considerably during these times.
We still believe there is time for accumulation without rashness but we also see much turmoil
later in the year and as the decade ends.
We shall cover more of this in our annual forecast which is coming out this week
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 visit our website at illuminatisilver.com and if you haven’t already done so please
subscribe as a free member for regular email updates and offers.
Our Facebook page which is updated regularly can be found at facebook.com/illuminatisilver
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 of its owners.