Welcome to illuminati silver, we tell you
the truth about silver. Today is Saturday 23rd January 2016 and we
are providing our brief gold and silver update for week ending 22nd January.
Gold rose in US dollar terms last week by $9 from $1088 to $1097 having been as high
as $1108 and as low of $1059. In sterling terms it rose by £6 and in Euro terms it
rose by quite a large 19 Euros Silver rose 12 cents from $13.92 – $14.04
having reached a high during the week of $14.30 and a low of $13.87. In sterling terms it
rose by 7 pence, and by a quarter of a Euro. The Gold to Silver Ratio remained the same
as last week at 78.2:1 We did expect to see a little strength in
gold and silver for last week and the rest of the month as we enter the Chinese New Year,
and this actually occurred both in dollar, sterling and Euros terms though by only a
relatively small amount. Technical traders see a little strength in both gold and silver
for next week with resistance at the $1110 and $14.40 respectively
The Dow Jones closed on Friday at 16093 up 210 points and the Nasdaq closed at 4591.
Virtually all equity markets were up on Friday but equally, virtually all are down on the
month. The dollar index stands at 99.57 almost 1 point up on last week’s close and evidence
that the dollar is continuing to strengthen. US economic data last week was relatively
benign except that the weekly jobless figures had rose above market expectations announcing
a 293000 increase compared to an expected 279,000.
Of note though were the comments made by Mario Draghi, the President of the European Central
Bank, which opened the door for further quantitative easing should the global market tremors and
the emerging market slowdown threaten the eurozone’s recovery. He said:
“We are observing a weakening of the prospects of the Chinese economy, …this has two effects
substantially: one is through trade . . . the other, the confidence effect on the stock
market and all other financial markets.” So we have a strengthening dollar and the
prospect of more QE from Europe. To us this means that in dollar terms there will be further
pressure on gold and silver over the coming months (though we see a little strengthening
for this month) but in Euro and possibly Sterling terms we can see their prices rising a little.
The effect of QE may be to bolster stock-markets yet further thereby potentially attracting
surplus funds back into these, as opposed to precious metals. However, yet again there
is no doubt that for the present, China is the key.
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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