Welcome to illuminati silver, we tell you
the truth about silver. Today is Sunday 1st April 2018 and we are
providing our gold and silver weekly update for the week ending 30th March.
Gold fell $27 last week from $1,347 to $1,320 having hit a high of $1,356 and a low of $1,320.
In sterling terms gold finished the week at £942 that’s down £11, and in Euros it
closed at 1,072 Euros that’s down 18 Euros on the week.
Silver fell 20 cents from $16.57 to $16.37 having hit a high of $16.79 and a low of $16.23.
In sterling terms it closed at £11.68 that’s down 4 pence and in Euros it closed at 13.29
euros that’s down 0.12 euros. The Gold to Silver Ratio fell slightly from
81.29:1 to 80.63:1 The Dow Jones closed on Friday at 24,103 up
254 points on the day and up 570 points on the week; and the NASDAQ closed at 7,063 up
114 points on the day and up 71 points on the week.
Brent Crude fell $1.11 from $70.45 to $69.34 and US Light Crude fell 94 cents from $65.88
to $64.94 The dollar index stands at 89.97 that’s
up 0.54 on the week. Gold initially rose last week and then fell
back again on Tuesday continually falling and closing at its week’s low. A few reasons
for this include; a strengthening of the US dollar due to positive economic news, tensions
with North Korea abating as it’s leader Kim Jong Un pledged his commitment to denuclearization
and to meet U.S. officials, and further Whitehouse turmoil not materialising.
So this coming week may very well see a continuation of gold’s descent unless any of these situations
reverse, or that there is some form of major retaliation to proposed tariffs on imports.
Silver moved in almost exact parallel with gold rising until Tuesday, and then falling
back as the week continued, though it did close 14 cents higher than its low for the
week. There is undoubted support at the $16 level though the prospect of higher interest
rates may indeed cause this level to be breached with the next significant support level resting
at or near $15.50. We believe that silver will remain range bound for the next couple
of weeks, until negotiations with China over Tariffs, the North Korean situation is dealt
with and what Adviser Bolton recommends to the President in terms of Iran.
So at the moment we shall use a shipping term – ‘steady as she goes’.
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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.