Gold and Silver Update w/e 19th Aug 2016 – by illuminati silver

Welcome to illuminati silver, we tell you
the truth about silver. Today is Sunday 21st August 2016 and we are
providing our gold and silver update for the week ending 19th August.
Gold rose in US dollar terms last week by $5 from $1336 to $1341, having hit a high
of $1357 and a low of $1336. In sterling terms gold finished the week at £1026 down £7
and in Euros it closed at 1185 Euros that’s down 12 Euros on the week.
Silver fell 40 cents from $19.72 to $19.42 having reached a high of $20.11 and a low
of $19.22. In sterling terms it closed at £14.77 that’s down 48 pence for the week
and in Euros down 0.60 Euros at 17.06 Euros per ounce. The Gold to Silver Ratio rose from
67.7:1 to 69.4:1 The Dow Jones closed on Friday at 18,552 down
45 points on the day and down 24 points on the week, and the NASDAQ closed at 5,238 up
2 points on the day and up 6 points on the week. Brent Crude was up $3.91 at $50.88 and
US Light Crude was up $4.03 at $48.52. The dollar index stands at 94.51 that’s down
1.21 on the week. Gold fell on Friday for the first time this
week as hawkish comments from U.S. Federal Reserve officials renewed bets on a U.S. rate
hike this year, but was still on track to end the week with modest gains, which it did
albeit by $5. The important thing we want our listeners
to remember is that while August is a time when traders are on holiday, thereby causing
relatively subdued action, amid weakening greenback and fears of Eurozone crisis, the
central banks across the world will buy more gold than they sell in a bid to diversify
their reserves, causing the supply constraints and subsequently will lead to a further rise
in gold prices. That said we see this week beginning with
weaker prices and should gold get close to that $1300 level, then buyers should seriously
consider topping up unless of course they are already fully committed.
Silver we are a little less optimistic about very short term in that we saw on Friday prices
fall to early $19.40’s level and we expect this to continue into early next week. Do
not be surprised to see silver fall into $18 territory and should it reach the early $18
then again those who are underweight in silver should seriously consider topping up in our
view, as we do see silver at higher levels later in the year.
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updates and offers. Our Facebook page which is updated daily can be found at 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.

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