Gold and Silver weekly Update – w/e 10th November 2017

Gold and Silver weekly Update – w/e 10th November 2017


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
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
its owners.

13 Comments

  1. Hello, it's me….Joe. I know it's been a while since I commented, but I watch every video. Luv ya😘 I finally got both Eternal Sculptures coins and they're beautiful!!! I also have all 3 coins in "The Battles That Changed The World" series and they're really nice coins. I have to stop buying this nonsense though and get back to just bullion!!! I got sidetracked and started buying these crazy, low mintage items and the premiums are crazy.

  2. I've read that Russian and China both have now surpassed France and Italy in terms of gold holdings. Is this true? This would put China and Russian 4th and 5th in gold reserves, behind the IMF, Germany and the US.

  3. Always a pleasure to follow the updates. However, I'm having trouble seeing Gold & Silver ever going up to high levels.. I also look at all the issues and don't know why Gold & Silver has not already risen. For now, i'll just hold on to my silver for long term.

  4. DO NOT be distracted by looking at the daily noise in the metals and stock market….you MUST watch the bond market, if it continues its sell off this week, do yourselves a favour and short the hell out of equities.

  5. "fall back on Friday"? why do you not call it by name? end of trading Friday saw a 4 million oz open sell which took $11 off the price. This is pure manipulation, cant have the age old trusted wealth aggregator being competitive to the endless creation of funny money now can we?

  6. Love watching all videos you post. Do you guys think that the new silver bottom is no less that $16.50 now? I have noticed that the bottom seems to go about a $1 a year for the past few years. Thanks man.

  7. Hi how are you doing, I totally believed in you after watching your first youtube broadcast, and i have recently finished accumulating 100 KG of silver. please tell me, at this point, is it better to keep adding more silver to my stack or paying off my debts? I always have the idea that buying more silver now is a better idea as the price will go higher in future and then I can later pay all debts. please note that my bank deal with fixed interest so the price i'll pay back wont go up. thank you very much and please excuse my poor english.
    thank you

  8. Just got done looking at the Silver Institutes numbers for 2016. Over demand is down by nearly 125 million ounces. The silver bar/coin market went down by 85 million ounces. And the remaining demand for silver for use in the coin/bar market is about 9 times the 20 million ounce overall deficit. Meaning that even at an 85 million ounce drop in coins/bars the prepper/stacker folks are still propping up these prices. Silver should be at $12 max. The current price is pure profit taking or in some cases good enough o stay in business and that's with worldwide (China) demand for copper and nickel being low. Since gold and silver mines are actually byproducts of copper and other metal mining it is a sign of the weakness of silver for investment purposes that it is holding at these prices even with its "parent" metal also in low demand.

    I usually give a stupid prediction at this moment just for the heck of it but today's will be serious and based on the data. Looking at the data you will see that 3 times there was a surplus and a substantial surplus that is when you see the high prices. Thus proving without a doubt that atleast as far as the coin/bar market is concerned there is absolutely no relation between what the sellers are charging and what supply and demand logic would tell you should happen.

    Without some psychological event such as a bitcoin collapse, housing, sticks etc we will not see a huge spike in offering price for silver. And if everyone was smart they would swear off silver buying next year and cause the price to plunge and then buy up a bunch.

    I see no appreciable change for silver next year and only a psychological investment opportunity for gold. Such as a gold backed crypt currency or the like.

    When zinc was at 92 cents I said it was the best place to stash your cash. Since then zinc has gained 50%. Which is a pretty good return.

    So unless there is some major political/financial shake up you can expect the same minor wave action for silver next year $2 an ounce up and down but possibly some good movement in gold which isn't of much use unless you own a bunch.

    Personally I have made more from finding and reselling items around dumpsters like TV parts and discarded electronics. If I had to put that in silver terms between start of 2016 and now I would have had to buy about 600 ounces of silver at its low and sold near its high and held it for nearly 2 years.

    Not worth the headache.

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