Welcome to illuminati silver, we tell you
the truth about silver. Today is Sunday 17th September 2017 and we
are providing our gold and silver weekly update for the week ending 15th September.
Gold fell $27 from $1,346 to $1,319 having hit a high of $1,346 and a low of $1,319.
In sterling terms gold finished the week at £970 that’s down £50, and in Euros it
closed at 1,104 Euros that’s down 14 Euros on the week.
Silver fell 38 cents from $17.97 to $17.59 having hit a high of $17.97 and a low of $17.59.
In sterling terms it closed at £12.94 that’s down 67 pence for the week and in Euros it
closed at 14.72 euros that’s down 0.21 euros. The Gold to Silver Ratio rose from 74.90:1
to 74.98:1 The Dow Jones closed on Friday at 22,268 up
64 points on the day and up 471 points on the week, and the NASDAQ closed at 6,448 up
19 points on the day and up 88 points on the week.
Brent Crude rose $1.84 cents from $53.78 to $55.62 and US Light Crude rose $2.41 from
$47.48 to $49.89. The dollar index stands at 91.87 that’s
up 0.52 on the week. Last week saw gold open weaker and then slowly
recover and then weaken again ending the week at its low. Traders believe it may move closer
towards $1300 where they believe a solid floor exists. However should prices move below this
level then a decline towards $1250 is on the cards.
U.S. retail sales unexpectedly fell in August dropping 0.2% and data for July was revised
to show sales increasing 0.3% instead of the previously reported 0.6%.
Overall industrial production fell 0.9% over the month after a July increase revised upward
to 0.4%. Economists had expected a 0.1% increase. So we have sales and production figures falling,
the dollar strengthening only marginally, North Korea launching additional missiles
and another terrorist attack in London, and despite this, gold and silver prices fell
back. This does not bode well unless as traders believe that the floor exists at $1300.
We said last week that silver would vacillate between $17.50 – $18.50 when in fact it did
so between a tighter margin of $17.50 – $18.00. Again analysts seem to agree with us that
should silver fall below $17.50 then a fall to $17 is likely as should it hit $18 again
then a prompt rise to $18.50 is on the cards. We apologise once again for saying this but
silver is more or less tracking gold as seen by the relatively small changes in the GSR
during the past couple of weeks. Let’s be absolutely blunt about this, the
reason gold and silver prices are relatively high is the fear factor – North Korea, Trump
not being able to pass his Budget, and the Mueller Investigation and its potential ramifications.
Trump’s deal with the Democrats suggest that he may be able to gain some political
capital to pass legislation and this has helped markets to rise, notwithstanding the poor
economic data which means interest rates are likely to remain on hold for some months yet.
Gold and silver prices will move now in reaction to the slightest news, we would be more comfortable
in predicting a rise if and when we see gold at below $1200 and silver at or below $15
and their prices may indeed head that way if North Korea dies down – if not then they
are underpinned at $1250 and $16 respectively. On Tuesday we shall publish an update on how
we are progressing with the Inner Sanctum which we know a number of our listeners are
eager to know more about. 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