Welcome to illuminati silver, we tell you
the truth about silver. Today is Sunday 25th March 2018 and we are
providing our gold and silver weekly update for the week ending 23rd March.
Gold rose $34 last week from $1,313 to $1,347 having hit a high of $1,350 and a low of $1,307.
In sterling terms gold finished the week at £953 that’s up £11, and in Euros it closed
at 1,090 Euros that’s up 21 Euros on the week.
Silver rose 22 cents from $16.35 to $16.57 having hit a high of $16.65 and a low of $16.13.
In sterling terms it closed at £11.72 that’s down 1 penny and in Euros it closed at 13.41
euros that’s up 0.11 euros. The Gold to Silver Ratio rose from 80.30:1
to 81.29:1 The
Dow Jones closed on Friday at 23,533 down 424 points on the day and down 1,413 points
on the week; and the NASDAQ closed at 6,992 down 174 points on the day and down 490 points
on the week. Brent Crude rose $4.24 from $66.21 to $70.45
and US Light Crude rose $3.54 from $62.34 to $65.88
The dollar index stands at 89.43 that’s down 0.80 on the week.
Gold began last week by falling slightly as predicted, however although the FED raised
rates on Wednesday by 0.25% the comments were not quite as hawkish as some economists feared.
This meant that gold prices began to strengthen and particularly the following day when President
Trump signed an executive memorandum which would impose retaliatory tariffs on up to
$60 billion in Chinese imports. The fear of a potential trade war hit stock markets hard
and weakened the dollar thereby strengthening gold and silver prices.
So this coming week, the extent of any fall out between China and the US will prove quite
impactful on gold prices. If the two nations come to a deal, then prices will fall, and
if not, then we may very well witness the $1400 level being tested.
Silver moved similarly to gold, though gold gained more momentum, in that we saw the GSR
rise by 1 point – basically from 80 to 81:1. Again prices this coming week are going to
be impacted and determined by the reaction to tariffs and whether retaliation or conciliation
is the order of the day. Before closing we would like to mention to
our listeners to beware of potential price movements of gold and silver in April. On
the 9th April John Bolton will assume the role of National Security Adviser as a result
of the resignation of General McMaster. Mr Bolton has been branded by some commentators
as ‘one of the three most hawkish people in the US in terms of military intervention’
and this may very well witness a change in strategy for President Trump. It may just
be posturing in order to push nations such as North Korea and Iran and others to the
negotiation table, or it may very well lay the groundwork of military action to come.
If the latter we shall indeed see precious metal prices rise and we should all be mindful
of that possibility. 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