Welcome to illuminati silver, we tell you
the truth about silver. Today is Sunday 21st May 2017 and we are providing
our gold and silver weekly update for the week ending 19th May.
Gold rose $27 last week to $1255 having hit a high of $1,264 and a low of $1,227. In sterling
terms gold finished the week at £963 that’s up £10, and in Euros it closed at 1,120 Euros
that’s down 3 Euros on the week. Silver rose 40 cents from $16.47 to $16.87
having reached a high of $17.03 and a low of $16.44. In sterling terms it closed at
£12.94 that’s up 16 pence for the week and in Euros it closed at 15.05 euros that’s
down 0.02 euros. The Gold to Silver Ratio fell slightly from
74.56:1 to 74.39:1 The Dow Jones closed on Friday at 20,804 up
141 points on the day but down 92 points on the week, and the NASDAQ closed at 6,121 up
28 points on the day but down 38 points on the week.
Brent Crude rose $2.77 cents to $53.61 and US Light Crude rose $2.49 to $50.33
The dollar index stands at 97.14 that’s down 2.11 on the week.
Prices rose mid-week after the U.S. Dollar and equity markets were damaged by a report
claiming that former FBI Director Comey said that Trump asked him to stop investigating
former National Security Adviser Michael Flynn, however this was mitigated somewhat by the
appointment of a Special Prosecutor. The rally in stocks on Friday to some extent
put the dampeners on gold and will continue to do so if it continues to rise. However,
North Korea’s recent threatening rhetoric earlier today will keep investors slightly
nervous and therefore any major rise or falls will be to some extent kept in check.
Silver had a strong week but is again more or less moving in line with gold. The weaker
dollar, helps its price to firm but a stronger stock-market has a counter effect. As we said
last week, fundamentals at the moment have little impact, it’s the political agenda
that is going to drive prices one way or another over the next few weeks. If North Korea dies
down, and the Trump tour goes well, then gold and silver prices will fall, however if the
opposite occurs, then we may well see another 2%-3% rise in short order.
We are of the opinion that gold at or around $1200 and silver at or around the $16 bracket
offers good value and we are slowly accumulating providing we can purchase very close to spot
prices. We hope you have found this video interesting
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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