Gold and Silver weekly Update – w/e 27th October 2017


Welcome to illuminati silver, we tell you
the truth about silver. Today is Sunday 29th October 2017 and we are
providing our gold and silver weekly update for the week ending 27th October.
Gold fell $7 last week from $1,280 to $1273 having hit a high of $1,283 and a low of $1,264.
In sterling terms gold finished the week at £969 that’s down £2, and in Euros it closed
at 1,096 Euros that’s up 9 Euros on the week.
Silver fell 18 cents from $17.04 to $16.86 having hit a high of $17.15 and a low of $16.63.
In sterling terms it closed at £12.85 that’s down 7 pence for the week and in Euros it
closed at 14.52 euros that’s up 0.05 euros. The Gold to Silver Ratio rose slightly from
75.11:1 to 75.50:1 The Dow Jones closed on Friday at 23,434 up
33 points on the day and up 106 points on the week, and the NASDAQ closed at 6,701 up
2 points on the day and up 72 points on the week.
Brent Crude rose $2.96 cents from $57.75 to $60.71 and US Light Crude rose $2.23 cents
from $51.84 to $54.07 The dollar index stands at 94.90 that’s
up 1.20 on the week. Last week proved a little weaker in gold and
silver price terms primarily again because of the strengthening US dollar. With the Bank
of England possibly raising interest rates this week, it’s just possible that we shall
see gold prices fall further in sterling terms. We have heard many analysts state that they
expect gold to test the $1300 level again soon, but frankly if it does, it will be short
lived. We believe that there is a greater likelihood that it will dip further towards
the $1200 level and vacillate between $1200 and $1300 for a little while yet. That said,
the Mueller investigation which is likely to result in someone being arrested this week,
and tensions in North Korea will keep gold firm and not allow it to fall below $1200
which is where we believe it should lie. Silver, and please forgive us for repeating
this, is pretty much tied to gold at or around the 75:1 GSR. We see its price firm slightly
and fall back and again we see a range of between $16 and $17 for the next week or so.
To be frank the gold and silver markets are quite boring right now and are likely to be
for the next few weeks. Of course geopolitical tensions affect their price, and add a little
spice but almost no matter what happens save a declaration of war, gold will operate between
$1150 – $1400 and silver between $15 – $18 until the year end – so the message is simple,
buy on dips and slowly accumulate for the long term. Do not expect too much excitement
for 2017. We hope you have found this video interesting
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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.

11 thoughts on “Gold and Silver weekly Update – w/e 27th October 2017

  1. "Do not expect too much excitement", lol, it's like watching an old man painfully and slowly dying. Everyone's gone to cryptoland. It's got a pulse, a heartbeat and a future. This market is dead dead dead.

  2. While I agree with your PM assessment, it seems that the gold miners are acting a bit differently. Are you still planning to open an Inner Sanctum? I hope so. Cheers!

  3. What about the news story of the oldest bullion dealer ScotiaMocatta?
    The potential sell to China, the criminal allegations, its short positions, and potential implications are interesting.
    Could it be a factor for silver prices?

  4. I really don't see the silver price dropping below $16/ounce. There seems to be good resistance around the $16.25 level. As far as next year goes, I see sideways trading for most of the year. 2019 however, could be different. I see a US recession late 2018, into 2019. I have no idea just how bad it will be (debt levels are higher than in 2007/2008). Will the Fed do another round of QE?

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