Gold and Silver Update w/e 27th May 2016 – by illuminati silver

Welcome to illuminati silver, we tell you
the truth about silver. Today is Sunday 29th May 2016 and we are providing
our gold and silver update for the week ending 27th May
Gold fell in US dollar terms last week by $40 from $1252 to $1212 an oz, having reached
a high of $1255 and a low of $1207. In sterling terms gold fell by £34 and in Euro’s it
fell by 24.7 Euros Silver fell by 30 cents from $16.53 to $16.23
having reached a high of $16.57 and a low of $16.13. In sterling terms it fell 30 pence,
and in Euros it fell by 0.40 Euros. The Gold to Silver Ratio fell from 75.7:1 to 74.7:1
The Dow Jones closed on Friday at 17,873 up 45 points on the day and up some 373 points
on the week, and the NASDAQ closed at 4933 up 31 for the day and up 164 points on the
week. Brent Crude was up $0.60 cents at $49.32 and US Light Crude was up $0.92 at $49.33.
The dollar index stands at 95.52 that’s up 0.19 on the week its fourth consecutive
weekly rise. Although gold has fallen during the week as
the Federal Reserve put rate increases back on the table, as market participants believe
the possibility of such a rise is now around 30%, there appears to be support surrounding
the $1200 level. Technical analysts state that should gold fall below $1200, then they
are likely to sell, thereby weakening its price further. However, Fed Chairman Janet
Yellen said late Friday in remarks at a Boston speaking engagement, “probably in the next
couple of months, another increase is appropriate.” – Thereby indicating, as we have said that
a June increase is unlikely. “The Brexit vote coming one week after the June FOMC meeting
probably tips the likelihood of a rate hike to the July meeting”, said National Australia
Bank on Friday morning. Silver markets fell during the course of the
week, however, there does appear to be significant support above the $16 level. Had Janet Yellen
on Friday been a little more hawkish, we were confident that silver would have fallen into
$15 territory, however, we suspect it will remain in the $16.10 – $16.80 trading range
this week, though it is still our opinion there is somewhat more downward pressure than
upward pressure for the next few months. 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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is updated daily can be found at 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.

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