Welcome to illuminati silver, we tell you
the truth about silver. Today is Sunday 3rd September 2017 and we
are providing our gold and silver weekly update for the week ending 1st September.
Gold rose $33 from $1,291 to $1,324 having hit a high of $1,327 and a low of $1,291.
In sterling terms gold finished the week at £1,023 that’s up £20, and in Euros it
closed at 1,117 Euros that’s up 34 Euros on the week.
Silver rose 66 cents from $17.07 – $17.73 having hit a high of $17.74 and a low of $17.05.
In sterling terms it closed at £13.69 that’s up 44 pence for the week and in Euros it closed
at 14.95 euros that’s up 0.64 euros. The Gold to Silver Ratio fell from 75.62:1
to 74.67:1 The Dow Jones closed on Friday at 21,987 up
39 points on the day and up 174 points on the week, and the NASDAQ closed at 6,435 up
6 points on the day and up 170 points on the week.
Brent Crude rose 34 cents from $52.41 to $52.75 and US Light Crude fell 58 cents from $47.87
to $47.29 The dollar index stands at 92.81 that’s
up 0.07 on the week. Last week saw gold prices rise quite significantly
resulting in a 6% rise over the past 3 weeks. Frankly its mainly about North Korea and escalating
tensions and its this that we cautioned about – but had hoped that common sense would
dominate and the North Korean President would stay quiet. This has proven not to be the
case, with even further comments over the weekend about them having even more powerful
nuclear capability – it is beyond us how such lunatics seem to ascend to power and
the world does nothing or so little until it becomes too late. Whilst many advocate
that the USA should not involve itself in regime change, sometimes unfortunately it
is absolutely necessary and North Korea may be such a case in point – though they are
so strongly backed by the Chinese it is so difficult to calculate how any form of incursion
can take place without significant repercussions. Gold is now standing at that crucial point.
There is significant resistance at $1330 but if this level is breached for more than 2
days then $1400 is on the cards – though we suspect and anticipate some correction.
The dollar weakness is causing some of the European Countries to worry about their own
exports and we may indeed see some movement to help arrange a dollar correction to the
upside. The disappointing jobs report on Friday suggests
that there may not be another interest rate rise this year and this could cause dollar
prices to fall further and precious metal prices to rise, at least in dollar terms,
but all of our calculations suggest a reversal of the past 3 weeks and a few declines lie
ahead for precious metals and a rise in the dollar index but perhaps not immediately.
So we are expecting a further rise in gold prices initially and then a fall back – however
we have to admit if North Korea continues on this track of continual provocation, then
quite frankly gold could rise significantly. There is little to say about silver as it
is mirroring gold yet again. However with it breaking through the $17.50 level and straight
up to $17.70 the $18 level is a realistic target if further political tensions ensue.
In our mind its much higher than it should be – but who said that normal supply and demand
conditions are logical – it is fear money which is moving into precious metals at the
moment and whilst that fear is fed, then so will the dollars be. That said, a reversal
is on the cards but it may be a couple of days before we see it.
Finally we have noticed that the answers we have given to subscriber’s comments have
not appeared. We have contacted YouTube and asked them to look into it – we wanted you
to know that we are not ignoring you but there appears to be a glitch.
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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.