Welcome to illuminati silver, we tell you
the truth about silver. Today is Sunday 29th January 2017 and we are
providing our gold and silver weekly update for the week ending 27th January.
Firstly we wish to apologise to all of our listeners as we were without both broadband
and our computer system for most of the week which is why no videos were produced. In addition,
we have had to change our web designer for the Inner Sanctum which has caused some considerable
time allocation and has slightly delayed our launch which we shall apprise you of in another
video – also we want the Inner Sanctum to be a very worthwhile experience for you and
we want it just right, so please be a little patient with us, as we feel it will be well
worth the wait. Meanwhile; Gold fell in US dollar terms last week by
$18 from $1209 to $1191, having hit a high of $1219 and a low of $1180. In sterling terms
gold finished the week at £949 that’s down £28, and in Euros it closed at 1113 Euros
that’s down 13 Euros on the week. Silver rose by 7 cents from $17.07 to $17.14
having reached a high of $17.29 and a low of $16.64. In sterling terms it closed at
£13.66 that’s down 14 pence for the week and in Euros it closed at 16.02 euros that’s
up 0.08 Euros. The Gold to Silver Ratio fell from 70.82:1
to 69.49:1 The Dow Jones closed on Friday at 20,093 down
7 points on the day and up 266 points on the week, and the NASDAQ closed at 5660 up 5 points
on the day and up 105 points on the week. Brent Crude was up just 3 cents at $55.52
and US Light Crude was down just 5 cents at $53.17
The dollar index stands at 100.53 that’s down 0.21 on the week.
Last week we stated that precious metal prices would fluctuate but would likely end up down
at the end of the week. This was certainly the case with gold, however silver held its
own, by a sharp rise on Friday wiping out the week’s losses.
Gold futures posted the longest streak of losses since November as buying from China
stopped ahead of its week-long holiday to celebrate the Lunar New Year.
The metal pared earlier losses Friday which were caused originally by the Dow exceeding
20,000, after a report showed U.S. economic growth slowed more than forecast last quarter
on the biggest drag from trade in six years and more moderate consumer spending.
Interestingly volatility measured by the VIX index dived to levels unseen in more than
two years and the S&P 500 Index climbed to fresh records, the number of bearish bets
changing hands relative to bullish ones has fallen to the lowest level since 2009, according
to data compiled by Bloomberg. U.S. Gross Domestic Product grew an annualized
1.9% during the fourth quarter of 2016. This was below the 2.1% forecast. U.S. Durable
Goods fell 0.4%, well below the 2.7% estimate, but better than the -4.5% reported last month.
Both reports raise questions about the Fed’s ability to raise interest rates without negatively
affecting the economy. The situation vis-à-vis Trump’s desire
to have a weaker dollar to help exports and the FED’s desire to raise interest rates
is making predictions for gold and silver prices particularly difficult. We may even
witness a falling dollar but a higher interest rate scenario with gold actually falling as
opposed to rising against dollar weakness. The Silver markets broke out during the day
on Friday by some 40 cents , but ran into quite a bit of resistance above the $17 level.
Technical analysts believe that should prices rise above $17.30 then Silver markets could
go much higher. Alternately, if we breakdown below the $16.50 level, Silver markets could
drop significantly from that level. Either way, it’s going to be a very volatile market.
Commentators have now begun to quote what we have said for a long time. Trump’s tweets
have an influence on market direction. His conflicting tweets vs public announcements
confuse these markets and therefore the uncertainty causes a high degree of volatility.
It is still our contention, at least for now, that gold markets will remain subdued, and
the silver market will perform better than gold short term, however both could do well
if President Trump achieves creating a Trade war with China or Mexico or threatens to take
Iraq’s oil as is currently muted. This next week will be directed by what happens
when markets open tomorrow; we are continuing to sit on our hands, but as far as silver
is concerned, any weakness in price may provide a small buying opportunity.
All eyes will be on Friday’s Non-Farm Payroll Report and any further legislative plans announced
by President Trump. 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
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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