Gold and Silver Update w/e 27th May 2016 – by illuminati silver

Gold and Silver Update w/e 27th May 2016 – by illuminati silver


Welcome to illuminati silver, we tell you
the truth about silver. Today is Sunday 29th May 2016 and we are providing
our gold and silver update for the week ending 27th May
Gold fell in US dollar terms last week by $40 from $1252 to $1212 an oz, having reached
a high of $1255 and a low of $1207. In sterling terms gold fell by £34 and in Euro’s it
fell by 24.7 Euros Silver fell by 30 cents from $16.53 to $16.23
having reached a high of $16.57 and a low of $16.13. In sterling terms it fell 30 pence,
and in Euros it fell by 0.40 Euros. The Gold to Silver Ratio fell from 75.7:1 to 74.7:1
The Dow Jones closed on Friday at 17,873 up 45 points on the day and up some 373 points
on the week, and the NASDAQ closed at 4933 up 31 for the day and up 164 points on the
week. Brent Crude was up $0.60 cents at $49.32 and US Light Crude was up $0.92 at $49.33.
The dollar index stands at 95.52 that’s up 0.19 on the week its fourth consecutive
weekly rise. Although gold has fallen during the week as
the Federal Reserve put rate increases back on the table, as market participants believe
the possibility of such a rise is now around 30%, there appears to be support surrounding
the $1200 level. Technical analysts state that should gold fall below $1200, then they
are likely to sell, thereby weakening its price further. However, Fed Chairman Janet
Yellen said late Friday in remarks at a Boston speaking engagement, “probably in the next
couple of months, another increase is appropriate.” – Thereby indicating, as we have said that
a June increase is unlikely. “The Brexit vote coming one week after the June FOMC meeting
probably tips the likelihood of a rate hike to the July meeting”, said National Australia
Bank on Friday morning. Silver markets fell during the course of the
week, however, there does appear to be significant support above the $16 level. Had Janet Yellen
on Friday been a little more hawkish, we were confident that silver would have fallen into
$15 territory, however, we suspect it will remain in the $16.10 – $16.80 trading range
this week, though it is still our opinion there is somewhat more downward pressure than
upward pressure for the next few months. 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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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 of
its owners.

21 Comments

  1. In these times where country after another country start to have big internal problems: Venezuela Puerto Rico Brazil Chillie Greece France Belarus,and with the middle east on fire……….

    Every body with its eyes open sees something is wrong and the media can tell us what it wants but i see more and more bad news….closer to home then ever before in my 34 years of age…

    The more and more i pay intrest to video,s of Richard Wolff Jim Richards and many more the more i understand and see what a scam we live in………..Russia Iran North Korea and and arent the enemys…..Its capitalism and fiat money,and the media is a big scam they tell u only what some people want us to see…………Here in Holland,u hardly see anything about nuit debout where people in France stand up and say its enough…….Thats real news but we only see how bad and evil North Korea and Russia are and how good the USA its econemy is doing and that we are in a recovery……….

    I hear this crap for more then 5 years now and there aint no recovery….just we sink further and further….

  2. From the first of the year until about a week ago gold has been extremely strong. Many have said that the bottom happened in December and that we have entered a new long term bull market. It seems likely that gold will fall below 1200, which, as you say, would increase downward pressure. So what is your take? False bull or short term correction with resumed strength later in the summer?

  3. 1202 gold silver below 16 and platinum is 975 just now on a holiday weekend keep your eyes open! the prices are on the move ! thanks as always

  4. Thanks. I always look forward to the weekly update videos. The debt market is something to watch closely. World debt is higher today than it was back in 2008. US household debt is now approaching the 08 levels again. Credit card debt peaked in 08 at $1.02 trillion. Today it is around $975 billion. However, student loan debt and auto (sub-prime) loans are higher today than at any point in US history. Are higher interest rates needed to begin scaling back this debt? But if they choose this policy path of higher rates, growth will slow even more and recession is guaranteed.

  5. It is always nice to hear a forecast that is not hysterical.
    A man can only listen to people yelling "the world is ending the world is ending" or its precious metal equivalent "500 dollar silver" for so long, before he starts thinking, "yea properly NOT"

  6. Bitcoin finally shot past major resistance at $470, eventually climbing beyond $500 to a high of about $550, presently around $540, though due to retrace as it's still way overbought. This 20%+ move from $450 happened in the space of just a few days, and coincided with Yuan devaluation. Indeed, Chinese Bitcoin exchanges appeared to lead the move, and showed a premium over western exchanges of up to $50 per Bitcoin.

    "The People’s Bank of China cut the fixing by 0.45 percent to 6.5784 per dollar, the weakest level since February 2011"

    http://www.bloomberg.com/news/articles/2016-05-30/yuan-extends-weekly-decline-as-pboc-weakens-fixing-to-2011-low

    All the same, with the new Chinese gold exchange opening and in an environment of CNY devaluation, this could be good news for metals too, after this sell-off phase is done. I notice when looking at gold on a long time scale that the daily RSI dips below 30 for a while before each sharp move up. It seems to be in a corrective phase now and once it's done, we could see another large move up, although there may still be some downward pressure yet.

  7. Great man.  Gold as I speak is $12.05.  Do you  think it will go down even farther in price?  I want to buy a 1/4 oz pieces but do you think it makers a difference leading up to the president rave in NOv.  to make the prices of gold and silver go up?

  8. Thanks for the update I know it's a bit late but we shall see some sparks over the next few months due to britexit. Looking at upward pressure but each to there own. Take it easy.

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