Welcome to illuminati silver, we tell you
the truth about silver. Today is Sunday 24th September 2017 and we
are providing our gold and silver weekly update for the week ending 22nd September.
Gold fell $22 from $1,319 to $1,297 having hit a high of $1,319 and a low of $1,288.
In sterling terms gold finished the week at £961 that’s down £9, and in Euros it closed
at 1,085 Euros that’s down 19 Euros on the week.
Silver fell 59 cents from $17.59 to $17 having hit a high of $17.63 and a low of $16.85.
In sterling terms it closed at £12.59 that’s down 35 pence for the week and in Euros it
closed at 14.23 euros that’s down 0.50 euros. The Gold to Silver Ratio rose from 74.98:1
to 76.29:1 The Dow Jones closed on Friday at 22,349 down
9 points on the day and up 81 points on the week, and the NASDAQ closed at 6,426 up 4
points on the day and down 22 points on the week.
Brent Crude rose $1.24 from $55.62 to $56.86 and US Light Crude rose 77cents from $49.89
to $50.66 The dollar index stands at 92.17 that’s
up 0.30 on the week. Last week saw gold prices fall primarily because
of a hawkish statement from the FED. Whilst most economic data appears weaker than envisaged,
Fed members stated that they now project faster GDP growth for 2017, with a median forecast
of 2.4% growth, versus a June projection of 2.2%. We maintain that rates will go up once
more this year by 0.25% and we believe this will be in December. Of course geopolitical
events may upset these plans, but we cannot help but feel that prices ae going lower as
we stated last week and last month. Silver again followed gold, but perhaps even
more to the downside thereby allowing the GSR to rise by over 1 point. Again we see
no reason for silver to stay at this level unless geopolitical tensions continue to increase;
otherwise the downward trend will continue. So we envisage gold and silver prices to open
this week down and may very well see their prices move closer towards the $1250 and $16.50
levels respectively. Last week we stated incorrectly that there
would be an Inner Sanctum update on Tuesday, when we should have said next Tuesday meaning
Tuesday of this week. Our apologies for the inconvenience caused.
Last minute News is that Angela Merkel has won the Chancellorship of Germany for the
fourth term with 33% of the vote. However, the Hard Right Group the AFD also won seats
allowing them to enter Parliament for the First time. Whilst they will prove disruptive,
the rest of Europe will be relieved that Merkel has won and we expect to see more stability
within the European arena – which is not necessarily good for gold and silver prices.
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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.