Welcome to illuminati silver, we tell you
the truth about silver. Today is Sunday 13th May 2018 and we are providing
our gold and silver weekly update for the week ending 11th May.
Gold rose $3 last week from $1,315 to $1,318 having hit a high of $1,325 and a low of $1,304.
In sterling terms gold finished the week at £973 that’s up £2, and in Euros it closed
at 1,103 Euros that’s up 4 Euros on the week.
Silver rose 15 cents from $16.52 to $16.67 having hit a high of $16.83 and a low of $16.33.
In sterling terms it closed at £12.31 that’s up 10 pence and in Euros it closed at 13.96
euros that’s up 0.15 euros. The Gold to Silver Ratio fell from 79.60:1
to 77.66:1 The Dow Jones closed on Friday at 24,831 up
91 points on the day and up 569 points on the week; and the NASDAQ closed at 7,402 down
2 points on the day but up 193 points on the week.
Brent Crude rose $2.25 from $74.87 to $77.12 and US Light Crude rose 98 cents from $ $69.72
to $70.70 The dollar index stands at 92.53 that’s
down 0.03 on the week. Gold opened weaker last week but began to
obtain upward momentum especially as President Trump announced the ditching of the Iran Nuclear
deal which frankly spread concern, and in some cases fear, about both political and
possibly military reprisals, which were strengthen then with the conflict between Iran and Israel
notching up considerably towards the end of the week.
We have said lately that we expect a weakening of precious metal prices over the next 2 months
unless military or serious political conflict occurs and this past week has seen both. Interestingly
though the precious metal price increases have so far been small but should the conflict
increase then obviously these prices will rise further. If they de-escalate then prices
will fall and in our view more than their recent rise.
Technical analysts believe that a number of ‘hammers’ have formed which suggest a
rising gold price perhaps up to $1400 – well we shall have to wait and see about that – yes
quite possible if tensions increase but not so if they dissipate.
Silver like gold opened lower, rose and fell back again a little of Friday. A number of
Analysts believe that we are about to enter a bullish trend with silver rising to $17.50
and perhaps beyond. Again our view is the same as gold – if military tensions increase
then yes we shall see prices rise, if not we expect them to fall back further – either
way the next few days will provide the route map for the duration of May.
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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.