Welcome to illuminati silver, we tell you
the truth about silver. Today is Sunday 4th September 2016 and we
are providing our gold and silver update for the week ending 2nd September
Gold rose in US dollar terms last week by $4 from $1321 to $1325, having hit a high
of $1327 and a low of $1303. In sterling terms gold finished the week at £996 down £9 and
in Euros it closed at 1187 Euros that’s up 7 Euros on the week.
Silver rose 79 cents from $18.65 to $19.44 having reached a high of $19.45 and a low
of $18.41. In sterling terms it closed at £14.62 that’s up 43 pence for the week
and in Euros it rose 0.77 Euros at 17.42 Euros per ounce. The Gold to Silver Ratio fell from
70.8:1 to 68.2:1 The Dow Jones closed on Friday at 18,491 up
72 points on the day and up 96 points on the week, and the NASDAQ closed at 5,249 up 22
points on the day and up 31 points on the week. Brent Crude was down $2.63 at $ 46.83
and US Light Crude was down $2.76 at $44.33. The dollar index stands at 95.8 that’s up
0.3 on the week. Gold during the early part of the week fell
almost touching the $1300 level and then recovered quite strongly on Friday by pretty non-descript
jobs data. Whilst the FED has been talking up the prospects of an interest rate rise,
the market consensus is that this may now not happen until December where they see a
0.25% rise occurring. We would not necessarily differ with that opinion as things currently
stand, however of course we shall know who the New US President will be by that time
and of course depending upon whether its Clinton or Trump will be reflected in markets accordingly.
We hope those who were underweight in gold used last week as an opportunity to purchase
more, as we suspect that we shall now slowly witness rising prices from here.
Silver made up its losses from the previous week experiencing strong support just above
the $18 level and resistance at $19.50. That said, we can see silver move a little higher
slowly perhaps up to $21 again, but we are not expecting any major jump beyond that level
currently. We had hoped that silver would have moved slightly closer to the $18 level
to enable listeners to buy in if they were underweight. We suspect that now traders are
back in harness, that $19 will become more the norm for now.
We promised our subscribers that we would produce a video on Platinum and our thoughts
on this metal and this will be forthcoming towards the end of this week.
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updates and offers. Our Facebook page which is updated daily can be found at facebook.com/illuminatisilver 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