Welcome to illuminati silver, we tell you
the truth about silver. Today is Sunday 27th May 2018 and we are providing
our gold and silver weekly update for the week ending 25th May.
Gold rose $9 last week from $1,292 to $1,301 having hit a high of $1,307 and a low of $1,282.
In sterling terms gold finished the week at £978 that’s up £19, and in Euros it closed
at 1,117 Euros that’s up 19 Euros on the week.
Silver rose 5 cents from $16.46 to $16.51 having hit a high of $16.71 and a low of $16.28.
In sterling terms, it closed at £12.41 that’s up 19 pence and in Euros it closed at 14.17
euros that’s up 0.19 euros. The Gold to Silver Ratio rose slightly from
78.49:1 to 78.80:1 The Dow Jones closed on Friday at 24,753 down
58 points on the day but up 38 points on the week; and the NASDAQ closed at 7,433 up 9
points on the day and up 79 points on the week.
Brent Crude fell $2.07 from $78.51 to $76.44 and US Light Crude fell $3.40 cents from $71.28
to $67.88 The dollar index stands at 94.25 that’s
up 0.62 on the week. Gold fell initially at the start of last week
by $10 on the first day. However, it maintained a slow and steady recovery with some turbulence
on Friday closing some $9 higher than its week start and $6 lower than its week’s
high. The Fed meeting minutes that showed that the
central bank will allow inflation to run above target and softer than expected US durable
goods orders helped U.S. yields to soften, paving the way for higher gold prices.
On the political front the potential cancellation of the meeting between President Trump and
Kim Jong-un also impacted prices to rise, but this may prove correcting should the meeting
be re-affirmed. Silver like gold fell sharply on Monday and
then vacillated during the course of the week. It seems to hit a mean average at or around
the $16.50 level but we still hold on to the view than the $16 level will break downwards
before June is out. Interest rates, the dollar value, and political considerations are most
likely to influence silver prices again this coming week.
Quite a few economic statistics are coming out in the next 7 days. The ones to watch
are: • Consumer confidence index due on Tuesday
• Consumer spending and core Inflation on Thursday
• Non-Farm payroll report, unemployment rate and Manufacturing PMI are all due to
Friday. 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