Welcome to illuminati silver, we tell you
the truth about silver. Today is Saturday 12th November 2016 and we
are providing our gold and silver weekly update for the week ending 11th November.
Gold fell in US dollar terms last week by $81 from $1304 to $1223, having hit a high
of $1336 and a low of $1221. In sterling terms gold finished the week at £970 that’s down
£71, and in Euros it closed at 1127 Euros that’s down 45 Euros on the week.
Silver fell $1.18 from $18.43 to $17.25 having reached a high of $19.01 and a low of $17.22.
In sterling terms it closed at £13.68 that’s down £1.04 for the week and in Euros it closed
at 15.91 euros that’s down 0.66 Euros. The Gold to Silver Ratio rose slightly from
70.75:1 to 70.90:1 The Dow Jones closed on Friday at 18,847 up
39 points on the day and up 959 points on the week, and the NASDAQ closed at 5237 up
28 points on the day and up 191 points on the week. Brent Crude was down $0.83 at $44.75
and US Light Crude was down $0.66 cents at $43.41. The dollar index stands at 99.06 that’s
up 1.87 on the week. Gold markets were mainly down last week until
Wednesday morning UK time when they peaked some $20 from the start of the week and then
consistently fell back with a significant fall on Friday.
From a technical point of view the very negative candle which formed signifies that perhaps
the attitude of the market has changed, and at this point markets are going to try to
reach down to the $1200 handle. This is an area that has a lot of support and we believe
that the dollar performance will have the main effect as to what happens from there..
Silver initially dipped and then rose, peaking some 58 cents above the previous week’s
close and then remaining quite sturdy until its significant fall on Friday.
Our video last week correctly stated that if Trump wins, gold will push well through
the $1300 and quite possibly get close to $1400 and silver through the $19 level possibly
rising to $20. We also said that If Hillary wins gold would fall back to the $1200 level
and silver back into $17 territory. Interestingly, on the election announcement,
gold and silver did move in the direction predicted and quite close to our envisaged
highs, then only to fall back to levels as we predicted for a Clinton win. This was unexpected,
as was Trump’s rather meek and mild Victory speech, which settled equity and currency
market concerns, causing both a significant rise in stock market indices and the value
of the dollar. The markets seem to like Trump’s plan on
reducing personal and corporate taxes, and reducing legislative burdens on business.
Something we observed and perhaps should have made more of is the number of City establishment
figures Trump was beginning to surround himself with, suggesting that perhaps the markets
had no reason to be spooked by his victory. How long this euphoria will last no-one truly
knows, however the value of the dollar currently is surging and will have a significant impact
on precious metal prices, which we suspect have a little further to fall. So to those
who felt gold was going to jump to $2000 and silver to $50 we have repeatedly said it’s
not going to happen for some time yet. What we can say is that traditionally we are entering
the weaker period for gold and silver prices and it is quite possible that any further
falls can one day be looked upon as yet another opportunity for those of us who believe in
precious metals long term to make additional purchases at cheap prices.
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updates and offers. Our Facebook page which is updated daily 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