Welcome to illuminati silver, we tell you the truth about silver.
Today is Sunday 11th February 2018 and we are providing our gold and silver weekly update
for the week ending 9th February 2018.
Gold fell $17 from $1,333 to $1,316 having hit a high of $1,345 and a low of $1,307.
In sterling terms gold finished the week at £951 that’s up £7, and in Euros it closed
at 1,074 Euros that’s up 4 Euros on the week.
Silver fell 24 cents from $16.60 to $16.36 having hit a high of $16.95 and a low of $16.19.
In sterling terms it closed at £11.83 that’s up 7 pence and in Euros it closed at 13.36
euros that’s up 0.03 euros.
The Gold to Silver Ratio rose from 80.30:1 to 80.40:1
The Dow Jones closed on Friday at 24,190 up 330 points on the day and down 1,330 points
on the week, and the NASDAQ closed at 6,874 up 97 points on the day and down 366 points
on the week.
Brent Crude fell $5.79 from $68.58 to $62.79 and US Light Crude fell $6.25 cents from $65.45
to $59.20 The dollar index stands at 90.44 that’s
up 1.25 on the week.
Gold began last week slightly stronger and then slid ever since; with a stronger dollar
proving negative for the precious metal.
As we pointed out in our last report, if gold should fall below $1329 then it may indeed
slide towards the $1300 level and possibly into the late to mid$1200’s and we still
expect this to happen over the coming 2 – 3 weeks.
In deed with the stockmarket taking a substantial fall over the past 2 weeks, this should have
proven positive for gold, but as a number of analysts pointed out, in fact investors
sold gold to pay the margin calls on stocks as they believe that stocks will continue
to venture higher.
We shall have to wait and see, but should gold fall below $1300, which we believe it
will, it shall provide a nice buying opportunity once again.
Silver prices on technical grounds are looking quite weak and do not be surprised to see
its price fall below $16 and head towards $15.50 quite soon.
We personally welcome this because this is the level we believe silver should actually
be at, and should it fall even lower then it will create an excellent buying opportunity.
Part 1 of our annual forecast will be out on Tuesday followed by part 2 on Thursday.
Sorry for the extended delay, we had a few data issues which we needed to clarify before
publication.
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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.