Gold and Silver Update w/e 14th Oct 2016 – by illuminati silver

Gold and Silver Update w/e 14th Oct 2016  –  by illuminati silver


Welcome to illuminati silver, we tell you
the truth about silver. Today is Saturday 15th October 2016 and we
are providing our gold and silver update for the week ending 14th October.
Gold fell in US dollar terms last week by $7 from $1257 to $1250, having hit a high
of $1267 and a low of $1248. In sterling terms gold finished the week at £1026 up £15,
and in Euros it closed at 1139 Euros that’s up 18 Euros on the week.
Silver fell 14 cents from $17.55 to $17.41 having reached a high of $17.82 and a low
of $17.35. In sterling terms it closed at £14.28 that’s up 17 pence for the week
and in Euros it rose 0.20 Euros to 15.86 Euros per ounce. The Gold to Silver Ratio rose slightly
from 71.6:1 to 71.8:1 The Dow Jones closed on Friday at 18,138 up
39 points on the day and down 102 points on the week, and the NASDAQ closed at 5214 up
1 point on the day and down 78 points on the week. Brent Crude was up just 2 cents at $51.95
and US Light Crude was up 54 cents at $50.35. The dollar index stands at 98.01 that’s
up 1.38 on the week. Gold futures traded in an extremely tight
range last week of just under $20. Rising expectations of a Fed rate hike in December
curtailed any real upside action. This was speculated by Treasury traders who drove yields
to a four-month high. This was confirmed by hawkish minutes from the Fed’s September
FOMC meeting. The chances of a Fed rate hike in December rose from 66% to 70%. A worse
than expected U.S. sentiment report also weighed on gold prices.
Many traders are predicting a small sell off next week however if this does happen, we
envisage only a small move downwards, and believe that prices are now becoming very
attractive. Silver markets initially tried to rally during
the course of the week but turned back around to form what technical analysts refer to as
a very small shooting star. However, the $17 level is likely to continue to be supportive
and it is suggested by some traders that once the $18 is breached again, then a shooting
star will propel prices back to the $20 level. As with gold, silver has further been affected
by the strong dollar and the threat of interest rate rises.
The dollar’s rise not only impacted both gold and silver, we have now witnessed 2 strong
consecutive weekly rises, making a farce of those advocates who were claiming that its
recent fall was going to continue down into oblivion.
Wednesday is the third and final Presidential Debate at the University of Nevada, Las Vegas,
with Chris Wallace, the Anchor at Fox News Sunday being the moderator. The Trump camp
has indicated that it will be a ‘no holes barred’ event and we shall no doubt witness
some serious accusations and perhaps adverse behaviour between the candidates. With Trump
declining in the polls, this is slowly reducing traders concerns, however should Trump be
seen to do well and revive his fortunes, then we can see some falls on the markets and gold
and silver prices regain a little lost ground. 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 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
its owners.

10 Comments

  1. Always looking forward to update Illuminati . Thanks.  My 14 year old played his first senior game yesterday and only made one. They brought in a silly mid off and silly mid on.  He belted the ball it hit silly mid off , ricochet off his back and was caught by the leg spin bowler metres away Ouch !

  2. It has been 2 weeks since the sharp drop in the gold price. While the price hasn’t climbed back to where it had been, it hasn’t slipped any further despite the strength of the US$. While nothing is certain in this market, I would (cautiously) conclude this is a positive development for those who may be contemplating an investment in gold.

  3. Thanks for the update! You should do a video on key dates for the rest of 2016. Deutsche Bank earnings reports (and all Q3 earnings reports, for that matter), the US elections, the Italian referendum, etc.

  4. Thanks for the vids IS. What is your take on the exploding US debt? The deficit increased 34% this year, the highest since 2009. Even the IMF came out this week and said they are very "worried" about the debt levels of both governments and corporations. Also, nearly 40% of Americans are 180+ days in delinquency on their debts. How can the fed raise rates in this type of environment. This will only accelerate the problems. With all that said, I do believe they will raise rates in December, but for all the wrong reasons.

  5. Is anyone on this site still long term bulls? It appears that IS has turned all it's followers into PM bears lol. Forever live fiat!!

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