Gold and Silver Update w/e 23rd December 2016


Welcome to illuminati silver, we tell you
the truth about silver. Today is Saturday 24th December 2016 and we
are providing our gold and silver weekly update for the week ending 23rd December.
Gold fell in US dollar terms last week by just $1 from $1134 to $1133, having hit a
high of $1142 and a low of $1126. In sterling terms gold finished the week at £922 that’s
up £15, and in Euros it closed at 1083 Euros that’s down 2 Euros on the week.
Silver fell 32 cents from $16.10 to $15.78 having reached a high of $16.21 and a low
of $15.64. In sterling terms it closed at £12.84 that’s down just 4 pence for the
week and in Euros it closed at 15.09 euros that’s down 0.31 Euros.
The Gold to Silver Ratio rose from 70.43:1 to 71.8:1
The Dow Jones closed on Friday at 19,933 up 14 points on the day and up 90 points on the
week, and the NASDAQ closed at 5462 up 15 points on the day and up 25 points on the
week. Brent Crude was down just 5 cents at $55.16
and US Light Crude was up $1.12 at $53.02 The dollar index stands at 103.01 that’s
up 0.06 on the week. We ended last week’s video with the words:
“Next week, we see additional downward pressure on both gold and silver prices, though attempted
rallies are expected; however with most of the news out of the way, any demise is likely
to be gradual.” This is essentially what occurred; finally
Gold markets rallied slightly on Friday as the market continues to grind back and forth.
The $1125 level continues to be supported, and a short term bounce is possible. Traders
are currently stating that if this happens they will use it as a selling opportunity
as the view in the trading rooms is that gold will fall below the $1100 level and into mid
$1000 territory very soon. Technically speaking, Gold prices flat lined
ahead of the long holiday weekend as volume was thin, and prices stable. Resistance on
gold is seen near the 10-day moving average at 1,138, while support is seen near the July
2015 lows at 1,076. Momentum is neutral with the MACD (moving average convergence divergence)
index standing near the zero index level with a flat trajectory which reflects consolidation.
Like gold, Silver markets tried to rally on Friday also, but turned around and formed
a shooting star like candle. It looks as if the market is going to continue to grind lower,
perhaps reaching towards the $15 level at which point it is likely to be supported for
a while. Again similar to gold, traders are advocating that any rally will present an
opportunity to sell, and so we should still expect rather bearish performance for a while
with a few exceptional days amongst the trend. Next week’s trading is likely to be thin
and so any movements can be exaggerated both to the up and the downside. We foresee primarily
a week of consolidation with prices perhaps rising slightly initially but continuing their
bearish trend into 2017. We shall be producing our 2017 price forecast next week in which
we shall go into greater depth. 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

Be the first to comment

Leave a Reply

Your email address will not be published.


*