Gold and Silver Update w/e 24th March 2016 - by illuminati silver
Today is Saturday 26th March 2016 and we are providing our gold and silver update for week ending 24th March as the UK and US markets were closed on 25th and re-open again on Tuesday 29th.
Gold fell in US dollar terms last week by $39 from $1255 to $1216 having been as high as $1257 and as low as $1214. In sterling terms gold fell by £6 and in Euro’s it fell by 24 Euros.
Silver fell by 64 cents from $15.81 - $15.17 having reached a high of $15.98 and closing at its low of $15.17. In sterling terms it fell 18 pence, and in Euros it fell by 0.44 Euros. The Gold to Silver Ratio rose from 79.4:1 to 80.2:1.
The Dow Jones closed on Friday at 17,515 up 13 points on the day and down some 87 points on the week, and the NASDAQ closed at 4,773 up 5 for the day and down some 22 points on the week.
Brent Crude was almost $1 down on the week at $40.44 and US Light Crude was slightly up by 2 cents at $39.46. The dollar index stands at 96.27 up 1.19 on the week and more than making up for last week’s fall.
Meanwhile we continue with our normal position: that should you be underweight in metals in your portfolio, then you should at least consider purchasing on dips. For those who are living in countries other than the US which are adopting negative interest rates and feel that rates may go even lower, should bear in mind that the acquiring of gold and silver should be considered as a hedge. We still see gold and silver falling from current levels in the course of the coming months.
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