Gold and Silver weekly Update – w/e 20th October 2017

Gold and Silver weekly Update – w/e 20th October 2017


Welcome to illuminati silver, we tell you
the truth about silver. Today is Sunday 22nd October 2017 and we are
providing our gold and silver weekly update for the week ending 20th October.
Gold fell $24 last week from $1,304 to $1,280 having hit a high of $1,306 and a low of $1,277
more or less reversing the previous week’s gains. In sterling terms gold finished the
week at £971 that’s down £11, and in Euros it closed at 1,087 Euros that’s down 16
Euros on the week. Silver fell 36 cents from $17.40 to $17.04
having hit a high of $17.46 and a low of $16.91. In sterling terms it closed at £12.92 that’s
down 18 pence for the week and in Euros it closed at 14.46 euros that’s down 0.26 euros.
The Gold to Silver Ratio rose from 74.94:1 to 75.11:1
The Dow Jones closed on Friday at 23,328 up 165 points on the day and up 457 points on
the week, and the NASDAQ closed at 6629 up 24 points on the day and up 24 points on the
week. Brent Crude rose 58 cents from $57.17 to $57.75
and US Light Crude rose 39 cents from $51.45 to $51.84.
The dollar index stands at 93.70 that’s up 0.61 on the week.
Last week saw an almost exact reversal of fortunes for gold and silver compared with
the previous one. Stocks were underpinned by the news that the Senate approved a budget
blueprint which essentially paves the way for tax cuts which could further extend the
rally. This means that gold and silver become less attractive compared with stocks for the
moment at least. The strengthening dollar also weighed on gold prices.
We have always said that should President Trump survive and manage to push through his
tax cutting budget, then we should see the Dow Index beat the 25,000 level and gold fall
to $1200 or slightly below – though many analysts believe that the main range for gold in the
coming weeks is $1211 – $1362 – which frankly we don’t disagree with particularly save
perhaps $20 – $30 either way. Silver markets fell on Friday, primarily again
because of interest rate concerns and the strengthening dollar and stock markets. There
is nothing at the moment to differentiate silver trending any differently to gold. There
has been no major industrial innovation, no major discovery and no major mining collapse
to fundamentally affect this market. This means that we should see silver continue to
move in the same direction of gold for the coming weeks if not months and although there
appears to be strong support at or near the $16.50 level, we can see silver falling closer
to $16 once the tax cuts have been fully announced. That said, it’s important for our subscribers
and listeners to at least take note that although we are short term pessimistic on prices, it’s
only a matter of around 10% of current prices at most and more likely closer to 5% that
we see as downside during 2017. In other words, gold no lower than $1150 and silver no lower
than $15.25 thereby maintain a GSR of around 75:1. Of course the upside we envisage to
be similar though the proverbial black swan could of course cause prices to overshoot
recent highs – with North Korea and the Russian Collusion investigation possibly having
the greater known influences in the short term.
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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.

10 Comments

  1. I still believe gold is going to 10k over the next 10-15 years. Debt levels in the first world are unstainable. Household debt is larger in the US is breaking new records every quarter. 22 trillion national debt, 25 is the point of no return, no would need to tax everyone almost 100% just to make the interest payments at that point.

  2. I'm wrong about half the time but that doesn't keep me from posting my thoughts here. However on the big points like the 40 and 20 percent rise in Silver and Gold respectively I forecast on Jan 1, 2016 which came true rather quickly and this summers prediction of silver falling back off to nearly $18 to crash back to nearly the $15 range were, if taken seriously, as I did, good opportunities to make a buck.

    Well here is the newest one. While the possibility of a so called TAX CUT which is actually just a give away to the 1% would seem to bode well for the dollar the GOP Senate just made it less likely for an individual to sue a Bank for bank fraud or Wall Street for its shenanigans and instead you have to go through the laughable arbitration process which is used to cover and hide all manner of crimes. This is THE CANARY IN THE COALMINE event I was waiting for. I think this might be like seeing the Captain of the Titanic putting on a wet suit and walking around with a life preserver while telling everyone that's everything is okay as he makes his way to the rail of the ship. Early November and November in general should see some movement in the fake DOW JONES being propped up with money being counterfeited by the FED under the guise of being a government entity.

    If a correction on the order of 20% or more occurs good luck getting your money any time soon. Lots of people never read the fine print about having to wait 30 to 90 days for their money to be pried out of the investments the crooks have put it in. And if it gets bad enough they simply declare bankruptcy and you get nothing and now you have little legal recourse.

    If you can afford a few more ounces of silver get it. Keep your cars gassed up and it probably wouldn't be a bad idea to get some significant cash out of the bank because if and when it hits your ATMs wont work and the banks will lock their doors. The next CANARY IN THE COALMINE will be how quickly they lock their doors. The quicker they do the worse it is going to get. And they will already know that because they know better than anyone just how fake the world economy is. Built on fraud and imaginary money in the computers that doesn't exist. About 90% of the "value" in all the assets worldwide is a myth and sooner or later it will become evident as they run out of ways to hide the truth.

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