Welcome to illuminati silver, we tell you the truth about silver.
Today is Sunday 14th January 2018 and we are providing our gold and silver weekly update
for the week ending 12th January.
Gold rose $16 last week from $1,319 to $1,335 having hit a high of $1,339 and a low of $1,309.
In sterling terms gold finished the week at £972 unchanged, and in Euros it closed at
1,094 Euros that’s down 2 Euros on the week.
Silver rose 3 cents from $17.23 to $17.26 having hit a high of $17.28 and a low of $16.91.
In sterling terms it closed at £12.50 that’s down 13 pence for the week and in Euros it
closed at 14.14 euros that’s down 0.18 euros.
The Gold to Silver Ratio rose from 76.55:1 to 77.34:1
The Dow Jones closed on Friday at 25,803 up 228 points on the day and up 508 points on
the week, and the NASDAQ closed at 7,261 up 49 points on the day and up 125 points on
the week.
Brent Crude rose $2.25 from $67.62 to $69.87 and US Light Crude rose $2.86 from $61.44
to $64.30 The dollar index stands at 90.97 that’s
down 0.98 on the week.
Gold prices initially fell last week, recovered strongly towards the end of the week in reaction
to a steep rise in the Euro and a fall in the U.S. Dollar.
Technical analysts believe that $1300 represents a very strong floor and that $1350 is in sight.
Our view is that whilst $1350 is indeed quite likely we aren’t that confident that $1400
- $1450 will be reached any time soon.
Silver moved similarly to gold with a decent floor being established at or around $17 and
$17.50 being well within sight.
Analysts are predicting a rise to $18 and possibly $18.50 we still have to be persuaded
as we were anticipating a somewhat stronger rally than has been witnessed so far this
year.
Stock markets are continuing to rise even further and the dollar continues to weaken
– the latter providing a strong support for precious metals.
Interestingly prices either stalled or fell in sterling or euro terms, which shows that
this is just a dollar play at present.
For those who follow the commitment of traders (COT) report – it’s not encouraging.
The current rally, show speculators having jumped back in and are now enthusiastically
long while the commercials are aggressively short.
This may suggest that the recent rally may not have much further to run.
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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.