Welcome to illuminati silver, we tell you
the truth about silver. Today is Sunday 12th November 2017 and we
are providing our gold and silver weekly update for the week ending 10th November.
Gold rose $6 last week from $1,270 to $1,276 having hit a high of $1,288 and a low of $1,267.
In sterling terms gold finished the week at £971 that’s unchanged, and in Euros it
closed at 1,096 Euros that’s up just 3 Euros on the week.
Silver rose 5 cents from $16.85 to $16.90 having hit a high of $17.25 and a low of $16.80.
In sterling terms it closed at £12.86 that’s down 3 pence for the week and in Euros it
closed at 14.52 euros that’s unchanged. The Gold to Silver Ratio rose from 75.37:1
to 75.50:1 The Dow Jones closed on Friday at 23,422 down
39 on the day and down 117 points on the week, and the NASDAQ closed at 6,750 up 1 point
on the day and down 14 points on the week. Brent Crude rose $1.45 cents from $62.07 to
$63.52 and US Light Crude rose $1.10 cents from $55.64 to $56.74
The dollar index stands at 94.39 that’s down 0.55 on the week.
Gold as we predicted has more or less been range bound for the past few weeks and will
in our opinion continue to do so. It strengthened a little at the start of last week, until
Friday when most of its gains were wiped out, leaving it more or less little changed. There
are a number of economic reports coming out this week and the FED Chair Janet Yellen is
expected to speak on Tuesday, though frankly we see prices still at this stage only being
affected primarily by geopolitical events or an undermining of the value of the US dollar,
though again we cannot see why this should be affected on economic grounds currently.
Silver once again followed gold’s path rising at the start of the week only to fall back
on Friday. There seems to be some underpinning at the $16.50 level and some resistance at
or just above the $17 level. Our thoughts once again is that we can expect a few peaks
and troughs but for the next couple of weeks a slight move to the downside over all.
With so little excitement we were thinking about the past 12 months and how one could
become so excited about daily price movements either positively or negatively. Interestingly
though gold is currently up some $61 an ounce compared with exactly 12 months ago, but silver
is actually down 20 cents – neither of which quite frankly is particularly earth shattering
and yet we see week on week headline grabbing news of how these prices are on the verge
of a meteoric rise. With all of the uncertainty surrounding a Trump Presidency, and so many
people calling the collapse of the US dollar, yet another year has seemed to pass with little
difference in prices. The good news however is that at least the major downward trend
in gold and silver prices have appeared to stop and whilst there may be room for a little
further downward momentum, buyers can feel a little confident that major losses at these
levels are quite unlikely. 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