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Gold and Silver Update w/e 6th May 2016 by illuminati silver
Today is Saturday 7th May 2016 and we are providing our gold and silver update for week ending 6th May
Gold fell in US dollar terms last week by $5 from $1293 to $1288 an oz, having reached a high of almost $1302 and a low of $1271. In sterling terms gold rose by £7 and in Euro’s it fell by 0.22 Euros
Silver fell by 38 cents from $17.85 to $17.47, having reached a high of $17.95 and a low of $17.20. In sterling terms it fell 11 pence, and in Euros it fell by 0.28 Euros. The Gold to Silver Ratio rose from 72.44:1 to 73.76:1
The Dow Jones closed on Friday at 17,740 up 79 points on the day and down 33 points on the week, and the NASDAQ closed at 4,736 up 19 for the day and down 39 points on the week.
Brent Crude was down 55 cents at $45.37 and US Light Crude was down $2.71 at $44.66. The dollar index stands at 93.88 that’s up 0.80 on the week.
With gold and silver dipping mid-week and then recovering somewhat on Friday, mainly the result of the disappointing US Non-Farm Payrolls Report showing some 160,000 new jobs created as opposed to the forecast 202,000. This now practically eliminates any rate rise in June and indeed puts off such a potential rise until later in the year.
This is indeed positive for gold and silver with gold expected to breach the $1300 level and silver the $18 level quite soon.
Tomorrow we shall be publishing our video on the Silver Institutes Report – the World Silver Survey 2016 and what we believe to be the consequences from the information it contains.
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