Welcome to illuminati silver, we tell you
the truth about silver. Today is Sunday 7th January 2018 and we are
providing our gold and silver weekly update for the week ending 5th January.
Gold rose $17 last week from $1,302 to $1,319 having hit a high of $1,327 and a low of $1,302.
In sterling terms gold finished the week at £972 that’s up £8, and in Euros it closed
at 1,096 Euros that’s up 11 Euros on the week.
Silver rose 28 cents from $16.95 to $17.23 having hit a high of $17.28 and a low of $16.95.
In sterling terms it closed at £12.70 that’s up 16 pence for the week and in Euros it closed
at 14.32 euros that’s up 0.20 euros. The Gold to Silver Ratio fell from 76.81:1
to 76.55:1 The Dow Jones closed on Friday at 25, 295
up 220 points on the day and up 576 points on the week, and the NASDAQ closed at 7.136
up 58 points on the day and up 233 points on the week.
Brent Crude rose 75 cents from $66.87 to $67.62 and US Light Crude rose $1.02 from $60.42
to $61.44 The dollar index stands at 91.95 down 0.17
on the week. Gold prices rallied last week beginning with
strong buying, but prices consolidated towards the end as investors reacted to a stabilizing
U.S. Dollar. The catalyst behind this was upbeat U.S. economic data and hawkish Fed
minutes, which basically puts a small cap on the rise in the price of gold.
The FED has already suggested that there will be 3 interest rate rises this year, though
the employment figures announced on Friday were somewhat disappointing especially when
compared with Novembers. We still maintain a bullish undertone for January but we are
not expecting a rip-roaring advancement as witnessed at the beginning of previous years.
Silver prices moved similarly to gold but remaining above $17 is short term bullish.
Many analysts predict a rise up to $18.50 at which point they envisage significant resistance
and then a small reversal in prices. Silver is looking, at least for now, pretty well
fully priced in, in our view, save perhaps up to $1 – we are not necessarily expecting
a rise above $18 though prices may indeed come close to that figure.
The one thing for certain is that stock markets are rip-roaring ahead, easily surpassing the
Dow 25,000 level as we predicted, on the back of major corporate tax cuts and reductions
in restrictive regulations. We still believe the Dow has further to rise but frankly expect
a reversal as the Autumn US elections dawn upon us.
Meanwhile as far as gold and silver is concerned, we would accumulate on dips but not chase
prices at this stage. 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