Gold and Silver weekly update for w/e 29th January 2016 – by illuminati silver

Welcome to illuminati silver, we tell you
the truth about silver. Today is Saturday 30th January 2016 and we
are providing our brief gold and silver update for week ending 29th January.
Gold rose in US dollar terms last week by $21 from $1097 to $1118 having been as high
as $1127 and as low as $1078. In sterling terms it rose by £15 and in Euro terms it
also rose by 15 Euros Silver rose 23 cents from $14.04 – $14.27
having reached a high during the week of $14.53 and a low of $13.69 though this dramatic low
lasted all but a few minutes. In sterling terms it rose by 18 pence, and also by 0.18
Euros. The Gold to Silver Ratio rose slightly from 78.2:1 to 78.35:1
We predicted a further strength in gold and silver for last week, and this actually occurred
in dollar, sterling and Euro terms. Technical traders see a little strength in both gold
and silver for next week with support for gold at the $1100 and resistance for silver
at the $14.60 – though some analysts see the resistance level at $14.50.
The Dow Jones closed on Friday at 16,466 up 396 points and the Nasdaq closed at 4613.
Friday saw quite strong rises in all markets including Asia, Europe and the Americas. The
dollar index stands at 99.60 continuing its previous week’s strength although by a much
smaller percentage. The FOMC reported on Wednesday that it was
not going to raise rates, and in fact gave a relatively dovish tone suggesting that rates
were not likely to rise in March as originally predicted, using that much more used word
in previous times – “accommodative”. Having experienced the European Central Bank’s
comment that it may consider an extension of QE in the future, announced the previous
week, and the Bank of Japan declaring that it would begin to charge banks for the privilege
of holding money at the central bank, thereby cutting its rate from 0.1pc to -0.1pc – stock-markets
around the world were buoyed by these announcements. So the dollar continues to strengthen regardless
of numerous more extreme commentators announcing it’s on the verge of collapse, though, late
announcements last week did show that The US economy slowed sharply in the final quarter
of 2015 to achieve an annualised growth of just 0.7% after spending by consumers and
businesses eased. The figure – announced by the US Commerce Department – was weaker than
had been previously expected by analysts and economists who were largely forecasting a
rise of 0.9%. It meant that gross domestic product (GDP) for 2015 as a whole came in
at 2.4% for the second-year running. This is just 0.2% higher than the 2.2% growth rate
that the UK announced for itself earlier in the week.
Gold appears to have found a base at this stage and silver too appears to be holding
its own. We see markets beginning positive next week, and as we enter the Chinese New
Year also see commodities holding up. Of course should stock markets continue to rise, then
the envisaged funds planned for investment into gold may not occur which could temper
its rise and that of its poorer cousin 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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daily 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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