Gold and Silver weekly Update – w/e 18th August 2017

Gold and Silver weekly Update – w/e 18th August 2017


Welcome to illuminati silver, we tell you
the truth about silver. Today is Sunday 20th August 2017 and we are
providing our gold and silver weekly update for the week ending 18th August.
Gold fell $4 from $1,289 to $1,285 having hit a high of $1,300 and a low of $1,268.
In sterling terms gold finished the week at £998 that’s up £8, and in Euros it closed
at 1,092 Euros that’s up 2 Euros on the week.
Silver fell 13 cents from $17.11 to 16.98 having hit a high of $17.30 and a low of $16.59.
In sterling terms it closed at £13.20 that’s up 5 pence for the week and in Euros it closed
at 14.44 euros that’s down 0.05 euros. The Gold to Silver Ratio rose slightly from
75.34:1 to 75.62:1 The Dow Jones closed on Friday at 21,674 down
76 points on the day and down 184 points on the week, and the NASDAQ closed at 6,216 down
5 points on the day and down 40 points on the week.
Brent Crude rose 62 cents from $52.10 to $52.72 and US Light Crude fell 31 cents from $48.82
to $48.51 The dollar index stands at 93.43 that’s
up 0.37 on the week. Gold fell initially last week and then began
to gain momentum on Wednesday afternoon following the U.S. Federal Reserve’s July meeting minutes,
which had a dovish tone, and rose again quite sharply on Friday. The departure of Steve
Bannon and the political uncertainty surrounding it, caused gold momentarily to breach the
$1300 level, falling back almost immediately. Traders, or at least those not on holiday,
are looking at Treasury yields and to some extent are being guided by those. When yields
go up, gold goes down and vice versa. We have said for some time, that gold should
be lower and it is essentially only the political uncertainty which is keeping it somewhat raised.
Bannon gave an interview to the Washington Post this weekend stating:
“Republican leaders should support the President’s policies on tax, trade and funding a wall
on the Mexican border, or risk the wrath of Mr Trump’s supporters….. If the Republican
Party on Capitol Hill gets behind the President on his plans and not theirs, it will all be
sweetness and light, be one big happy family.” However, he also added that he does not expect
“sweetness” anytime soon – “No administration in history has been so divided among itself
about the direction about where it should go.”
So it certainly looks as if political turmoil still lies ahead. General Kelly, Chief of
Staff is clearly removing the mavericks in Trump’s White House, in order to bring a
more stable environment and organised conduct of affairs. To what extent he will succeed
only time will tell. This week we expect more uncertainty and envisage
gold operating range bound within $20 in either direction of its current level. However, we
must not rule out the recent threats by North Korea’s Kim Jong-un if the US goes ahead
and carries out its missile testing in South Korea which will serve to underpin golds value
for a little while yet. Silver more or less moved in direct correlation
with gold – with little news available either adding or subtracting to its similar fall
and rise in price. We suspect it will shadow gold for a while yet until greater certainty
is achieved on the political front. We are expecting this week to see up to a 50 cents
move in either direction for silver. We are witnessing rising demonstrations within
the US and Europe. There appears to be increased terrorist activity throughout the western
world, though so far and thankfully, only relatively small incidents have occurred.
We have a US President talking tough against North Korea, Venezuela, and has now launched
an investigation into China’s policies regarding intellectual property and trade, resulting
in China voicing ‘serious concerns’. The White House has not adequately staffed its
Embassy’s and White House controllers are also slim on the ground – all resulting
in much uncertainty and limited communication. Perhaps in the end, all of this will come
right, however, there is no doubt that tensions are raised and uncertainty abounds – all
of which is maintaining a relatively high floor under gold and silver prices. We were
expecting calm in August – we should have known better.
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 regularly
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.

12 Comments

  1. Excellent listening, always look forward to these. I still haven't worked out why you do this, but please know that it is appreciated 🙂

  2. https://www.facebook.com/jagdish31st/ i am financial astrologer i predicted all ups of gold silver using vedic astrology all evidence on page can we work together

Leave a Reply

Your email address will not be published.


*