Welcome to illuminati silver, we tell you
the truth about silver. Today is Sunday 30th July 2017 and we are
providing our gold and silver weekly update for the week ending 28th July.
Gold rose $14 last week from $1,255 to $1,269 having hit a high of $1,270 and a low of $1,244.
In sterling terms gold finished the week at £966 that’s up £1, and in Euros it closed
at 1,080 Euros that’s up 4 Euros on the week.
Silver rose 20 cents from $16.51 to $16.71 having hit a high of $16.81 and a low of $16.29.
In sterling terms it closed at £12.72 that’s up 2 pence for the week and in Euros it closed
at 14.22 euros that’s up 0.07 euros. The Gold to Silver Ratio fell slightly from
75.95:1 to 75.94:1 The Dow Jones closed on Friday at 21,830 up
33 points on the day and up 250 points on the week, and the NASDAQ closed at 6,374 down
7 points on the day and down 13 points on the week.
Brent Crude rose $4.46 cents from $48.06 to $52.52 and US Light Crude rose $3.94 cents
from $45.77 to $49.71 The dollar index stands at 93.25 that’s
down 0.33 on the week. After trading lower early in the week, gold
prices rose on Wednesday after a fall in U.S. Treasury yields made the U.S. Dollar a less-attractive
investment. The two main events that drove yields and the dollar lower were the U.S.
Federal Reserve’s interest rate decision and monetary policy statement. As expected,
the Fed unanimously declined to raise interest rates and implied that it is ready to begin
winding down its stimulus program in September rather than December as previously expected.
Gold rose again on Friday after the dollar weakened in reaction to U.S. GDP growth picking
up 2.6% in the second quarter, in line with expectations. However, first quarter GDP was
revised downwards to 1.2% Fundamentally, gold is supported by the dovish
outlook for U.S. interest rates and the gradually weakening U.S. economy. We see gold prices
peaking this week and once the Friday’s U.S. Non-Farm Payrolls report is out of the
way, we then expect to see a gradual August fall back.
Like gold, silver began trading weaker early on and then strengthened as the week progressed.
Some traders are predicting $17 silver very soon. We still maintain our position that
this week may see firmer prices and then fall backs as we get underway into August thereafter.
Keep an eye on developments in North Korea and increasing tensions with Russia. That
said, the strength of the US dollar is key at the moment and to a large extent, its direction
is influencing gold and silver prices, as witnessed by almost no change in sterling
and Euro prices. A final comment in relation to our political
videos. We are noticing once again some extremely vitriolic statements by certain subscribers
when we publish any critical comments re the Trump Presidency. We have just this to say.
We comment on Trump and his administration because they are actually in power. Whatever
the Clintons did, right or wrong, good or bad, is not the focus of our attention right
now because they currently have no power. Yes there should be justice for all and we
would like to see that. However, if some subscribers feel so appalled
because we levy the slightest criticism against the way Donald Trump runs his Presidency,
then frankly you would not survive our Inner Sanctum when it is eventually launched. By
all means disagree with us and state your disagreements with counter arguments. That’s
fine, but please avoid expletives and making vulgar and incredibly discourteous remarks.
If it’s too much for you then just skip the video.
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 of its owners.