Gold and Silver Update w/e 26th February 2016 – by illuminati silver

Gold and Silver Update w/e 26th February 2016 – by illuminati silver


Welcome to illuminati silver, we tell you
the truth about silver. Today is Saturday 27th February 2016 and we
are providing our gold and silver update for week ending 26th February.
Gold fell in US dollar terms last week by $6 from $1228 to $1222 having been as high
as $1251 and as low as $1203. In sterling terms it rose by £29 and in Euro terms it
rose by 15 Euros. Silver fell 64 cents from $15.31 – $14.67
having reached a high of $15.55 closing at its low. In sterling terms it fell by 4 pence,
and in Euros fell by 0.32 Euros. The Gold to Silver Ratio rose from 80.2:1 to 83.2:1
reflecting to some degree the greater confidence currently held in gold compared to silver.
We are currently witnessing a slight divergence between gold and silver this week. Technical
traders believe that gold is forming a “Bull Flag pattern” while whipsawing around the
10 day moving average. They see support around the $1210 level and resistance at $1250.
Silver on the other hand has moved back into bearish territory, especially on Friday. Traders
believe that prices may fall back to around the $14.40 level but generally accept that
there is quite some support at these levels. They are looking for a ‘daily supporting
candle’ to occur before buying again and so generally may wait and see how the market
develops over the next few days. The Dow Jones closed on Friday at 16639 down
57 points on the day but up some 247 points on the week, and the Nasdaq closed at 4590
up 8 for the day and up some 85 points on the week. Brent Crude was just over $2 up
on the week at $35.10 and US Light Crude also up more than $2 at $32.78. The dollar index
stands at 98.1 up 1.5 on the week. The big news on prices last week really applied
to sterling and the Euro. Seeing sterling’s value fall quite severely as political announcements
led traders to believe that a Brexit, or exit from the EU was increasingly likely, and thus
the sharp increase in the price of gold when purchased in sterling.
The G20 Finance Ministers and Central Bank Governors meeting with commenced in China
on Friday and has just ended, concluded by saying that a British Exit from the EU “would
be a shock to the world economy.” We shall be providing a video on the summit
on Sunday. Short term we see gold and silver remaining
within a 5% range though gold is looking a little more attractive at this stage. Nevertheless,
we still foresee no rush at present to jump into either, and for those who feel they are
‘underweight in precious metals’ could consider purchasing some on any dips from
current levels. 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 www.illuminatisilver.com and look at our Facebook page which is updated
daily at www.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 of
its owners.

16 Comments

  1. A question, does it make sense to purchase gold right now with silver/gold ratio so high? In Canadian dollars, gold is well over the CAD 1700 dollar mark. What is a good ratio in which to jump back into gold purchasing?

  2. Thank you! We are slightly frustrated with the political circus we seem to be living in just now ! as a society of many opinions some of us are just a bit embarrassed by the whole thing . You might understand how a few of us feel this way we live in a true nightmare politically.No real choice.

  3. Good video.

    According to zero hedge there is also a golden cross 50/200dma on gold to go along with that developing bull flag you mention. There are signals left right and centre, and despite my wishes for it to not be so, I think there is a good chance gold is going to reach your higher estimate in the short term. Personally I hope that Goldman will get their wish of $1000 gold by the end of the year and as gold is already expensive compared to almost everything, there is still a chance it will happen over that time frame. Fingers crossed. 🙂

  4. Good call. Been waiting for that dip. Yesterday was a good day to make a purchase and I was pleasantly surprised with Provident offering the 2oz Liberty coin again. Yessss.

  5. Was thinking. If you look at a chart of the ftse or the Dow since say 1990 you can clearly see that a collapse is just around the corner (if not underway) do you think the Brexit is all in the design of the collapse? After all Cameron wanted it on the 23rd of June, why not later? I think Britain will leave and they will use that as the excuse of the massive collapse that is coming.

  6. I've been looking at buying 10 – 50 oz of silver but my instincts are telling me it will go down further in a few days. I guess I'll have to suck it up for a few days to find out. There's a good deal on eBay for 1 oz sunshine silver bars for 98 cents over spot.

  7. i look forward to your video on the stirling. i really cant see why its gone down so much as my view is it should be weakening the euro instead given its one of the major economies leaving. anyways look forward to to your thoughts

  8. Here's a simple question about stackers who buy silver coins as opposed to bullion. Back in 2011 when silver spiked to almost $50, was there a commensurate spike in the "worth" of coins as well? Collectors are paying a premium to collect so called special coins. Is that premium actually worth it or when the price of silver spikes, does the premium paid mean little or nothing from a desirability standpoint? Are these coins looked at as plain silver or is their value enhanced?

  9. I would like ye to explain the resent rally in gold, a lot of people are talking about a breakout. Are we going to see upward momentum in march or will it flatline?

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