Gold and Silver weekly Update – w/e 6th July 2018

Gold and Silver weekly Update – w/e 6th July 2018


Welcome to illuminati silver, we tell you
the truth about silver. Today is Saturday 7th July 2018 and we are
providing our gold and silver weekly update for the week ending 6th July.
Gold rose $2 last week from $1,253 to $1,255 having hit a high of $1,259 and a low of $1,238.
In sterling terms gold finished the week at £944 that’s down £4, and in Euros it closed
at 1,068 Euros that’s down 4 Euros on the week.
Silver fell 8 cents from $16.12 to $16.04 having hit a high of $16.13 and a low of $15.79.
In sterling terms, it closed at £12.07 that’s down 14 pence and in Euros it closed at 13.66
euros that’s down 0.14 euros. The Gold to Silver Ratio rose from 77.73:1
to 78.24:1 The Dow Jones closed on Friday at 24,456 up
99 points on the day and up 185 points on the week; and the NASDAQ closed at 7,688 up
101 points on the day and up 178 points on the week.
Brent Crude fell $2.12 from $79.23 to $77.11 and US Light Crude fell 35 cents from $74.15
to $73.80 The dollar index stands at 93.96 that’s
down 0.51 on the week. Gold markets opened lower last week, dipped
to their lowest level on Wednesday and then staged a recovery with a reasonably good,
but not outstanding, jobs report on Friday underpinning prices. Technical analysts believe
that a ‘hammer’ was formed on Friday thereby potentially proving positive for the weeks
ahead. We still hold the view that with last week’s highs being lower than the previous
week’s highs, and last weeks lows being lower than the previous week’s lows we are
not at all confident that the short-term weakness in prices is over.
At the moment the major influence is the value of the dollar which weakened slightly mainly
because the Non-Farm payrolls report though showing more new jobs being created actually
resulted in a slightly higher unemployment rate which some economists believe may put
interest rates on hold just a little longer, thereby weakening the dollar. Trade sanctions
are currently the major political concern and some companies expressing concern about
the unemployment levels it may cause. We won’t know the outcome of these for some months
yet, however insecurity and uncertainty breeds fear which is usually positive for gold and
silver. We are still not convinced as yet that investors
currently view precious metals as that attractive compared with the alternatives at present,
as so still see a weakening of prices throughout July/August however if we are right and this
occurs we do foresee a turn around slightly later in the year.
Silver again followed gold’s path last week with the same influences i.e. the value of
the dollar having a direct impact on prices. There is quite reasonable support around the
$16 level but listeners to our channel will be very well aware that we do not see that
level holding for long. This coming week may indeed be a little more
positive for precious metals simply because the dollar is likely to weaken slightly from
its recent rise but again short of a major political or military announcement we do not
envisage any positive or negative impetus for precious metals – in other words it
will just be a dollar play. This coming week the following reports worth
noting are announced as follows: • On Monday Consumer Credit Index
• Wednesday Producer price Index • Thursday Consumer Price Index
• Friday the Import Price Index and Consumer Sentiment Index
So, the bottom line is slightly higher prices this coming week and then we expect a reversion
back to below $1250 gold and below $16 silver. We hope you have found this video interesting
and informative and if so, please give it a thumb up and share it on twitter. Also kindly
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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
its owners.

11 Comments

  1. Saved money listening to you guys rather than the silver pumpers out there. Thank you illuminati silver.

  2. Did you not read under the headlines? Nearly 90% of the jobs added last month were PART-TIME. Also, wages are stagnant, while inflation is rising. This is exactly what Alan Greenspan has been warning about for 2 years now. The US has a wave of stagflation headed our way, and it's gonna be nasty.

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