Gold and Silver Update – w/e 10th March 2017

Welcome to illuminati silver, we tell you
the truth about silver. Today is Sunday 12th March 2017 and we are
providing our gold and silver weekly update for the week ending 10th March
Gold fell in US dollar terms last week by $30 from $1,234 to $1,204 having hit a high
of $1,236 and a low of $1,195 In sterling terms gold finished the week at £989 that’s
down £14, and in Euros it closed at 1,128 Euros that’s down 33 Euros on the week.
Silver fell by 94 cents from $17.97 to $17.03 having reached a high of $17.97 and a low
of $16.85. In sterling terms it closed at £14 that’s down 61 pence for the week and
in Euros it closed at 15.96 euros that’s down 0.96 Euros.
The Gold to Silver Ratio rose from 68.67:1 to 70.70:1
The Dow Jones closed on Friday at 20,902 up 44 points on the day and down 103 points on
the week, and the NASDAQ closed at 5,861 up 22 points on the day and down 9 points on
the week. Brent Crude fell $4.53 at $51.37 and US Light
Crude fell $4.84 at $48.49 The dollar index stands at 101.25 that’s
down 0.19 on the week. Gold prices fell sharply last week and below
the psychological $1200 floor. As we suggested in our forecast, the prospect of an interest
rate rise on March 15th and an increasing probability of a number of rises during 2017
weighed heavily on gold and boosted the dollar. The jobs figures on Friday however were strong
with 235K jobs created against an expectation of 196k, though other aspects were mixed,
and this gave some relief to the dollar strength and gold moved slightly above the $1200 psychological
level. It is now almost certain that the FED will
raise rates on Wednesday by 0.25% but this has, to a large extent been taken in to account
by the markets. All eyes will be on the FED’s Statement about future interest rate rises
and this will dictate the longer term direction of gold and silver prices.
From a technical trading point of view, support is seen near the January 26th lows at $1,180,
while resistance is seen near the 10-day moving average at $1,226.
Silver also took quite a beating last week and only just managed to hold its head above
the $17 level. That said, we may see a slight firming of prices this week though we are
not expecting major moves in either direction. As we have suggested for the past few weeks,
it does make sense to buy during periods of weakness if your portfolio is light of precious
metals. The long term trend will be dictated by the
Central Bank’s policy announcements. However, that said, we see limited downside to both
gold and silver – yes its possible there may be a further $1 fall in silver and $100
in gold – but that is tiny compared to the potential upside over the longer term. So
we ourselves are becoming gradual, slow accumulators on weakness. This week should see a slight
firming until the FED declares its hand. This week we are providing our gold and silver
price forecasts; Later than expected but it was important to see how the Trump Presidency
begun to roll. 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.

16 thoughts on “Gold and Silver Update – w/e 10th March 2017

  1. slv/silver as of this video is technically neutral but i am seeing a divergence taking place we could see some nibbling before we start to see buying sentiment it's coming soon, and yes i made a silly video pumping silver

  2. Thank you once again I look forward to your forecast now that we can confirm that the Trumpmister is all about cognitive dissonance to further the agenda….

  3. Paper trades exceed physical gold- and silver stores by far. This is the main truth for me. I do not bother about "psychological" levels.

  4. The week end run down , now we look forward with this weeks news and hoping for a 100 $ price drop at any point ! A lot of constitutional silver( for me ) It is a striking way to stack silver its really beautiful and it is its own art form . Intrinsic value !

  5. was at work today and went to lunch at 1 pm and I checked silver spot price then and silver  $16,86 and I get home from work at 4 and I look at spot and it's now $17.33…what happened to make s and g to jump that much.  ? I figured s and g would go down lower once the fed talked about the  rate hike…  now the silver spot is $17.40.  Will silver go back down now that fed is goingto raise rate?  Thank you.

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