http://illuminatisilver.comhttp://facebook.com/illuminatisilverGold and Silver weekly Update – w/e 22nd December 2017
Today is Monday 25th December 2017 and we are providing our gold and silver weekly update for the week ending 22nd December
Gold rose $21 last week from $1,254 to $1275 having hit a high of $1,275 and a low of $1,257 In sterling terms gold finished the week at £953 that’s up £12, and in Euros it closed at 1,073 Euros that’s up 6 Euros on the week.
Silver rose 33 cents from $16.05 to $16.38 having hit a high of $16.43 and a low of $16. In sterling terms it closed at £12.25 that’s up 21 pence for the week and in Euros it closed at 13.79 euros that’s up 0.13 euros.
The Gold to Silver Ratio fell slightly from 78.13:1 to 77.84:1
The Dow Jones closed on Friday at 24,754 down 28 points on the day and up 103 points on the week, and the NASDAQ closed at 6,959 down 5 points on the day and up 23 points on the week.
Brent Crude rose $2.02 from $63.23 to $65.25 and US Light Crude rose $1.17 cents from $57.30 to $58.47
The dollar index stands at 93.26 down 0.67 on the week.
Gold and silver both gained some strength last week, primarily because of a slightly weaker dollar but mainly because of weaker US GDP data announced on Friday at 3.2% as opposed to the envisaged 3.3% - thereby tempering the prospect for interest rate rises next year. Also a relatively thin market meant that prices over reacted a little.
Silver showed similar strength only marginally outpacing gold. Many see this as a dollar play at the moment and the money appears to be on a weaker dollar, thereby stronger precious metal prices. Whilst as we said last week, the start of the year is normally positive for gold and silver, we still see a degree of consolidation and vacillation for gold between $1200 - $1300 and silver from $15 - $17 for the next few weeks.
We shall next week provide a comprehensive view as to where we see gold and silver prices heading in 2018 and meanwhile we wish all of our listeners and subscribers a very Merry Christmas and Prosperous 2018.
Please view our latest videos:
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