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Gold and Silver Update w/e 22nd April 2016 - by illuminati silver


Gold and Silver Update w/e 22nd April 2016

Today is Saturday 23rd April 2016 and we are providing our gold and silver update for week ending 22nd April.
Gold fell in US dollar terms last week by $10 from $1237 to $1227 an oz, having been as high as $1270 and closing at its low for the week. In sterling terms gold fell by £19 and in Euro’s it fell by 3 Euros.

Silver rose by 72 cents from $16.24 to $16.96, having reached a high of $17.60 and a low of $16.14. In sterling terms it rose 34 pence, and in Euros it rose by 0.71 Euros. The Gold to Silver Ratio fell from 76.17:1 to 72.35:1

The Dow Jones closed on Friday at 18,003 up 21 points on the day and up 106 points on the week, and the NASDAQ closed at 4,906 down 39 for the day and down 32 points on the week. Brent Crude was up a little over $2 at $45.11 and US Light Crude was up $3.37 at $43.73. The dollar index stands at 95.12 that’s up 0.42 on the week.

New trade data from Switzerland shows 44 tonnes of gold exports to London last month, confirming bullion-industry reports that a lack of Asian demand for 1-kilo investment bars has seen the world's largest refineries converting investment products back into large 400-ounce bars for wholesale storage in the UK.

So where does this all lead us – the answer is volatility. Yes prices, especially silver, will be volatile as it attempts to correct its gold to silver ratio lag and satisfy short term speculative investor demand. Some analysts are predicting we could see further rises to $18 over the next 2 – 3 weeks and whilst this is indeed possible – we think that is more likely than the $20 silver level that Deutsche bank is predicting.

So our suggestion is to await some fall backs and take that opportunity to purchase where you can. There will be time during this year so there is no need to panic – remain patient but remain alert.

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