Gold and Silver weekly Update – w/e 25th August 2017

Gold and Silver weekly Update – w/e 25th August 2017


Welcome to illuminati silver, we tell you
the truth about silver. Today is Sunday 27th August 2017 and we are
providing our gold and silver weekly update for the week ending 25th August.
Gold rose $6 from $1,285 to $1,291 having hit a high of $1,293 and a low of $1,281.
In sterling terms gold finished the week at £1,002 that’s up £4, and in Euros it closed
at 1,082 Euros that’s down 10 Euros on the week.
Silver rose 9 cents from $16.98 to $17.07 having hit a high of $17.15 and a low of $16.85.
In sterling terms it closed at £13.25 that’s up 5 pence for the week and in Euros it closed
at 14.31 euros that’s down 0.13 euros. The Gold to Silver Ratio remained unchanged
at 75.62:1 The Dow Jones closed on Friday at 21,813 up
30 points on the day and up 139 points on the week, and the NASDAQ closed at 6,265 down
5 points on the day and up 49 points on the week.
Brent Crude fell 31cents from $52.72 to $52.41 and US Light Crude fell 64 cents from $48.51
to $47.87 The dollar index stands at 92.74 that’s
down 0.69 on the week. Gold markets initially fell during the week
but found support near the $1275 level causing it to rise again towards $1300 a level which
it is finding very resistive Technical analysts are of the opinion that
should prices fall below $1275 then they will head further lower towards $1240 and then
again towards the $1225 level; equally, if they close overnight above $1300 then $1340
is on the cards quite quickly. What is clear to us, political issues apart;
such as North Korea, Mueller and Afghanistan the strength of the dollar is having the most
impact – or should we say weakness of the dollar, which traded lower again and is approaching
the lowest levels since May 2016 Janet Yellen’s speech at Jackson Hole on
Friday has led analysts to believe that the dollar may yet fall further and this weakness
will underpin gold prices. The concern however, is that bearing in mind this weakness, coupled
with political uncertainty it is disappointing that gold prices haven’t risen further,
and suggests to us, that its short term rise is by no means certain and any that does occur
is likely to be tempered. Silver markets once again more or less fall
in line with gold. Trading ostensibly between $16.50 – $17.50 where support and resistance
levels are respectively placed. Save a major political incident we see little change though
once again further dollar weakness may support prices that little further.
This coming week we have 3 main data declarations – namely:
August 2017 – Bureau of Labor Statistics US Gross Domestic Product, Q2 2017
August’s Manufacturing Purchasing Managers Index.
So we are not expecting any great shakes while the holiday period is concluded. Political
events and dollar weakness may cause prices to rise, while rising stock markets, and the
lowering of concerns over North Korea may cause precious metal prices to fall. Either
way, short of a black swan event, we believe that prices are more or less range bound.
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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.

23 Comments

  1. UUUHHHH, news flash, they've been range bound since 2012. As one analyst on CNBC said, precious metals have been in the greatest and longest bear market in his lifetime. He continued, it's obvious to anyone that Central Banks have capped precious metals prices. But, as with any and all manipulation, it ends eventually. Household debt in the UK and US are now at RECORD LEVELS. And you thought 2008-2009 was bad….we haven't seen anything yet.

  2. It is worth looking at the intra day price of gold on Friday 25th. There was an attempted smash down on Comex with 21,000 contracts sold in the space of a few minutes. This initially caused a $14 fall in the price, but it recovered quickly. This resilience suggests that some big players are now positioned long and are buying the dips.

  3. As always, Thank you silver illuminati for your hard work information you give us. Continue the fight! Eastvale, California

  4. Kind of changing your tune so to speak from a month ago. Said gold was going to go down. I knew it would be going up. It will continue to rise until about December to the 1350 range. Then it will stabilize there for a while and head up to 1450 by summer of next year. I hop this helps. Oh and silver will follow it up but the ratio won't change much. There you have it! I called it here!

  5. Illuminati predictions are always cautious. Anything can happen in the next few weeks that even the manipulators may not be able to contain.

  6. I agree. I bought NUGT Fri. before close of mkt, and was fortunate enough to get a 10%+ ride today. IF gold continues to rise, above 1325 and 1350, could have quite a bubble going. Hope all are out of the way when it pops.

  7. still in shock $17 silver is very low due to gold @1325 per oz..i see gold @1400 next monday 1 week from today and silver maybe breaking 18 finally….jeez this silver market is in the dumps!

  8. The dollar bullish, UUP, looks like it's hanging in outer space. The MACD's sloping down on negative divergence, and has just recently crossed down… again. RSI's hanging right above oversold, also on a negative divergent slope, but not really flagging a buying opportunity. We're under Bollinger support, so that's something, but we've also just broken under key technical support. And we've got a long way to go to match our last bearish flag pole. Even so, my gut says we're going to firm up and catch a potentially significant bounce pretty soon. In any case, gold has already accomplished what it needed to at the 1300 level to stay viable. Still looks to be moving past the tail end of the bubble-pop bear rally, so yay gold! And silver. And possibly any commodity, if this is indeed dollar Armageddon we're staring into.

  9. Useless diarrhea of the mouth by those that plainly admit they are not qualified to provide investment advice? Look the end game is clear just not the timing. Trade for the moment, but invest for the end game. Oh, I did not find the video informative nor illuminating. Either get a job or retire. Making boring videos is just a waste of time.

  10. It's short term rise is by no means certain and any that does occur is likely to be tempered. What sort of call is this? Gold broke 1300 in no uncertain terms and backtested it's breakout.

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