Gold and Silver weekly Update – w/e 1st December 2017

Gold and Silver weekly Update – w/e 1st December 2017


Welcome to illuminati silver, we tell you
the truth about silver. Today is Sunday 3rd December 2017 and we are
providing our gold and silver weekly update for the week ending 1st December
Gold fell $8 last week from $1,288 to $1,280 having hit a high of $1,298 and a low of $1,270.
In sterling terms gold finished the week at £950 that’s down £16, and in Euros it
closed at 1,076 Euros that’s down 3 Euros on the week.
Silver fell 57 cents from $17.01 to $16.44 having hit a high of $17.19 and a low of $16.27.
In sterling terms it closed at £12.21 that’s down 55 pence for the week and in Euros it
closed at 13.82 euros that’s down 0.44 euros. The Gold to Silver Ratio rose from 75.72:1.
To 77.86:1 The Dow Jones closed on Friday at 24,231 down
40 points on the day but up 674 points on the week, and the NASDAQ closed at 6,847 down
26 points on the day and down 42 points on the week.
Brent Crude fell 13 cents from $63.86 to $63.73 and US Light Crude fell 59 cents from $58.95
to $58.36 The dollar index stands at 92.88 that’s
up 0.10 on the week. Last week saw the US Senate pass an amended
US Finance Bill, and the Dow Index passed the 24,000 level as we predicted. In addition
the FED has all but hinted that rates will go up in December and so along with the UK
and Canada these higher rates are envisaged to continue higher which have resulted in
the bond markets in these countries becoming very attractive when compared to gold – which
has led to the migration of substantial funds from the gold market to the bond markets
Although gold prices rebounded somewhat on Friday, technically speaking momentum has
turned negative as the MACD (moving average convergence divergence) index generated a
cross sell signal suggesting lower prices. We maintain the view that weaker prices are
expected in December and so do not be surprised to see the support level around the $1260
level to be broken. Relative to gold, silver had a bad week falling
57 cents and an equivalent amount in sterling terms – some 55 pence, pushing the GSR up
over 2 points from 75:1 to 77 to 1. Though we believe this will gradually correct closer
to 75, we are again bearish for this metal during December – or certainly until the
interest rate decision is announced by the FED later in the month.
A recent report suggesting that silver demand has fallen in 2017 is weighing on prices and
frankly we still believe that it is pretty closely pegged to gold at this 75:1 GSR and
therefore unless North Korea heats up further or a significant political defeat for President
Trump occurs, then again we see lower prices over the next 2 weeks heading downwards to
that $16 level and possibly just below. Whilst this evidence is anecdotal, in the
physical world of silver, we are beginning to see ‘junk’ silver coins now selling
at silver scrap value prices on ebay and other websites. This does not bode well short term,
unless of course you are in the market for buying more.
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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.

12 Comments

  1. Us and south korea are doing the largest war drill ever very soon 230 fighter jets and 16000 troops simulating attacking north korea and strategic targets.

  2. Silver eagle sales down over 30% for the year, and as far as industrial demand well…..
    “ thrifting” is the new term you will hear from the solar panel manufacturers. This year most have figured out how to manufacture photovolic cells with a fraction of the silver they were using. One producer is Germany has all but eliminated silver in the cells they produce. I don’t think silver will be seeing $20 per oz for years to come.

  3. What are your thoughts on the spot price movement on the rate discussion Dec 12 or 13……I forget the 'normal' effect of spot (up or down) when the rate is increased and or no movement…thanks

  4. Thus summer when we were around the $18 mark I cautioned people to wait and see what December has in store. And here it is. Silver headed back to $15.

    I once said there may be one more opportunity for people to make money on silver. One more manufactured "craze" like the current crypt currency craze being used to convert money, which is actually debt, into something that can be crashed when necessary to erase that debt. Just like the sub prime house flipping scam was designed to erase a lot of the fraud on the books that the Baby Boomers thought was their parachute but was actually just numbers in paper. The scam is simple. You take something like houses, gold, cryptos, you name it that have any value you want them to be, have your minions in the banks and brokerage put the fake retirement accounts into them as investments then find a way to make the market crash that looks reasonable or organic. That last step is important when the grand jury , if any, is convened for your criminal activity.

    However I now believe there isn't enough physical silver and gold to make such a scheme worthwhile on a large scale. Pumping Gold back up to $2000 or Silver to $50 isn't a big enough payoff to make it worthwhile. I think stackers and the few large middlemen folk are responsible for Gold not dropping to so low its barely worth recovering say $1000 or Silver to $10. And running the Housing scam again wasn't working either so the FED pumped DOW and the Crypto Currency scam are their best bets to lop off a 100 trillion more of fake assets sitting in their computers. Assets the Baby Boomers and Gen Xers erroneously believe is their retirement accounts.

    Conclusion. Gold and Silver aren't massive enough to use as bait to grab your savings. A small run up might be tried by low level folks but if we ever see $50 silver again in the next 10 years I would be shocked.

  5. One of the telltale signs that your channel has lost relevance ,Is the fact Palladium has gone up 300 plus dollars ,in the three years I was a loyal member , until you guys stopped doing what you set out to do . I heard nothing ,ever , but I looked the other day Palladium was up in the 690s when I started following your channel ,to 900 plus dollars now . Never heard a word about it from anyone , unless I missed something besides buying Palladium at the 600s  🙂

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