Welcome to illuminati silver, we tell you the truth about silver.
Today is Sunday 17th December 2017 and we are providing our gold and silver weekly update
for the week ending 15th December Gold rose $6 last week from $1,248 to $1,254
having hit a high of $1,261 and a low of $1,237.
In sterling terms gold finished the week at £941 that’s up £9, and in Euros it closed
at 1,067 Euros that’s up 7 Euros on the week.
Silver rose 21 cents from $15.84 to $16.05 having hit a high of $16.14 and a low of $15.64.
In sterling terms it closed at £12.04 that’s up 21 pence for the week and in Euros it closed
at 13.66 euros that’s up 0.21 euros.
The Gold to Silver Ratio fell slightly from 78.78:1 to 78.13:1
The Dow Jones closed on Friday at 24,651 up 143 points on the day and up 322 points on
the week, and the NASDAQ closed at 6,936 up 80 points on the day and up 96 points on the
week.
Brent Crude fell 17 cents from $63.40 to $63.23 and US Light Crude fell 6 cents from $57.36
to $57.30 The dollar index stands at 93.93 up 0.03 on
the week.
Gold moved back and forth last week ending a little stronger on Friday but falling back
from the week’s peak.
We did notice that both the highs and lows were lower than the previous week, which suggests
to us that this small rally is unconvincing.
Gold should have risen more, especially, as we predicted the FED raised interest rates
once again but were rather dovish about the level of rate rises for 2018 and 2019 – citing
3 rises per year – albeit small ones.
So 3 raises this year despite Peter Schiff claiming that the FED could never raise interest
rates again in the middle of 2016 and four having occurred since then.
GDP figures for September were raised from 2.1% to 2.5% and inflation for 2018 has been
forecast at 1.6% falling from the envisaged 1.7% - so frankly we should have seen a more
robust recovery from gold.
That said, the start of the New Year has certainly in recent years seen a rise in precious metal
prices, but we believe this will be tempered by the apparent attractiveness of bitcoin
as an alternative – albeit a short term one and also the likelihood that the Trump
Tax Plan will pass the Senate on Tuesday – thereby potentially causing stock markets to rise
even further and putting a further dampening pressure on gold.
Silver rose again Friday and seems to like the $16 level.
Many analysts believe that $15.50 is an incredibly strong floor while $18 is an incredibly strong
ceiling and that vacillation between these amounts is what we are to expect over coming
months.
We don’t disagree, save that we can see silver dipping closer to $15 but hey what’s
50 cents?
Gold and silver prices are now going to obtain their direction from 2 key areas short term
– the value of the dollar and any infraction with North Korea – both of which can cause
higher precious metal prices.
The Mueller investigation can also play its part, especially, if, as some commentators
are suggesting, that President Trump sacks Mueller later this week.
We shall have to wait and see – though we know he’s capable of it, the advice his
lawyers are giving him is very different to that course of action.
So we have an interesting week ahead – at least politically and to be frank, we are
not expecting any great excitement in either direction for precious metal prices save the
caveats we have mentioned.
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.