Welcome to illuminati silver, we tell you
the truth about silver. Today is Saturday 25th February 2017 and we
are providing our gold and silver weekly update for the week ending 24th Feb.
Gold rose in US dollar terms last week by $21 from $1235 to $1256 having hit a high
of $1259 and a low of $1227. In sterling terms gold finished the week at £1008 that’s
up £13, and in Euros it closed at 1190 Euros that’s up 27 Euros on the week.
Silver rose by 37 cents from $17.99 to $18.36 having reached a high of $18.40 and a low
of $17.85. In sterling terms it closed at £14.73 that’s up 24 pence for the week
and in Euros it closed at 17.38 euros that’s up 0.43 Euros.
The Gold to Silver Ratio fell from 68.65:1 to 68.41:1
The Dow Jones closed on Friday at 20,821 up 11 points on the day and up 197 points on
the week, and the NASDAQ closed at 5845 up 9 points on the day and up 7 points on the
week. Brent Crude was up 18 cents at $55.99 and
US Light Crude was up 59 cents at $53.99 The dollar index stands at 101.09 that’s
up 0.14 on the week. Gold and silver markets strengthened towards
the end of the week especially as the dollar fell back somewhat and yet even with the dollar
strengthening again, we saw a continuing rise in both gold and silver prices.
Technical analysts are becoming excited too seeing gold reach the $1300 level very soon
and a number are muting $19 silver and possibly even a zig zag rise to $20 over the coming
weeks. We are seeing silver as a safe bet – if
markets or the dollar falls, then silver will rise as a monetary metal. If however the economy
picks up then silver will rise as an industrial metal. In addition, the FED failing to indicate
a hawkish view on rates will lead the markets to assume that it does not intend to keep
the dollar much above the 100 index and this will prove positive for precious metals. We
predicted 2 interest rate rises for this year and that is what we hold by and they do not
look as if they are going to occur in the next 2 months or so for sure.
This coming week we are publishing our forecast for 2017 and frankly we are becoming increasingly
positive about silver. So any dips that are experienced, and there will be some, will
present an opportunity for those who desire to buy to do so. President Trump has promised
an economy that must grow, and he will find it difficult to achieve with a high dollar
value. 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