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Gold and Silver Update w/e 27th May 2016 - by illuminati silver

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Gold and Silver Update w/e 27th May 2016 by illuminati silver

Today is Sunday 29th May 2016 and we are providing our gold and silver update for the week ending 27th May

Gold fell in US dollar terms last week by $40 from $1252 to $1212 an oz, having reached a high of $1255 and a low of $1207. In sterling terms gold fell by £34 and in Euro’s it fell by 24.7 Euros

Silver fell by 30 cents from $16.53 to $16.23 having reached a high of $16.57 and a low of $16.13. In sterling terms it fell 30 pence, and in Euros it fell by 0.40 Euros. The Gold to Silver Ratio fell from 75.7:1 to 74.7:1

The Dow Jones closed on Friday at 17,873 up 45 points on the day and up some 373 points on the week, and the NASDAQ closed at 4933 up 31 for the day and up 164 points on the week.

Brent Crude was up $0.60 cents at $49.32 and US Light Crude was up $0.92 at $49.33. The dollar index stands at 95.52 that’s up 0.19 on the week its fourth consecutive weekly rise.

Silver markets fell during the course of the week, however, there does appear to be significant support above the $16 level. Had Janet Yellen on Friday been a little more hawkish, we were confident that silver would have fallen into $15 territory, however, we suspect it will remain in the $16.10 - $16.80 trading range this week, though it is still our opinion there is somewhat more downward pressure than upward pressure for the next few months.

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