Welcome to illuminati silver, we tell you
the truth about silver. Today is Sunday 16th July 2017 and we are
providing our gold and silver weekly update for the week ending 14th July.
Gold rose $16 last week from $1,213 to $1,229 having hit a high of $1,231 and a low of $1,205.
In sterling terms gold finished the week at £938 that’s down £3, and in Euros it closed
at 1,071 Euros that’s up 8 Euros on the week.
Silver rose 37 cents from $15.62 to $15.99 having hit a high of $16.05 and a low of $15.21.
In sterling terms it closed at £12.21 that’s up 9 pence for the week and in Euros it closed
at 13.94 euros that’s up 0.24 euros. The Gold to Silver Ratio fell slightly from
77.66:1 to 76.86:1 The Dow Jones closed on Friday at 21,637 up
84 points on the day and up 223 points on the week, and the NASDAQ closed at 6,312 up
38 points on the day and up 159 points on the week.
Brent Crude rose $2.20 from $46.71 to $48.91 and US Light Crude rose $2.31 from $44.23
to $46.54 The dollar index stands at 95.15 that’s
down 0.85 on the week. Last week we saw a rise in the value of gold
by some $16 on the week as economic data and Janet Yellen’s comments suggested that interest
rates were unlikely to rise again this year. Well that’s what some commentators are saying
but not us. On Thursday we published a video “Why gold and silver prices have further
to fall in 2017” – and we did so because our interpretation of Yellen’s comments
was not that interest rates would not move up again this year, but actually the opposite.
They are likely to move up again but that it won’t be long before they reach that
level where the FED believes they can be maintained for a long time.
In fact, the gold rally, some $20 from its week’s low, is quite tiny considering the
perceived dovish tones, whereas the stock-markets rallied and will in our opinion continue to
do so. We see gold moving this week between $1200 – $1240 and then breaking down again
below $1200. Silver markets found $16 extremely resistive,
having only just managed to hit $16.05 and then fell back again below $16. We again,
as with gold see silver prices falling back and heading to breach that $15 level over
the next few weeks. If one carries out a brief analysis of the
dollar they will see that the dollar fall this week almost exclusively caused the value
of gold and silver to rise by a similar amount, when frankly, with so many people believing
that interest rates will not rise should have caused gold and silver to rise to a greater
extent if it were not for the fact that investors see equities as a better proposition right
now. We maintain our bearish stance for gold and
silver for the next 3 – 4 weeks, unless of course some significant political and military
action occurs. You may be interested to hear that Shareholdings
in the GLD have shrunk this week to the smallest level since the New Year. Hedge funds have
slashed their bullish betting on Comex futures and options to the lowest since the start
of January too, and turned bearish on silver derivatives overall.
An interesting historic note too quoted by Adrian Ash of Bullion Vault is that
“Gold prices tend to rally in the autumn after easing back over the summer months.
For UK investors for instance, gold has ended December higher than its summer lows 16 times
in the last 20 years. Analysis puts this down to a mix of ‘Sell in May’ (similar to the
stock market) plus lower seasonal demand from China and especially India. Diwali doesn’t
start until mid-October this year; some Hindu calendars now have no auspicious days for
weddings until November.” 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
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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