http://illuminatisilver.comhttp://facebook.com/illuminatisilverGold and Silver weekly Update – w/e 11th August 2017
Today is Sunday 13th August 2017 and we are providing our gold and silver weekly update for the week ending 11h August.
Gold rose $30 from $1,259 to $1,289 having hit a high of $1,291 and a low of $1,252. In sterling terms gold finished the week at £990 that’s up £25, and in Euros it closed at 1,090 Euros that’s up 21 Euros on the week.
Silver rose 83 cents from $16.28 to $17.11 having hit a high of $17.23 and a low of $16.14. In sterling terms it closed at £13.15 that’s up 66 pence for the week and in Euros it closed at 14.47 euros that’s up 0.64 euros.
The Gold to Silver Ratio fell from 77.27:1 to 75.34:1
The Dow Jones closed on Friday at 21,858 up 14 points on the day and down 234 points on the week, and the NASDAQ closed at 6,256 up 39 points on the day and down 95 points on the week.
Brent Crude fell 32 cents from $52.42 to $52.10 and US Light Crude fell 76 cents from $49.58 to $48.82
The dollar index stands at 93.06 that’s down 0.48 on the week.
Well last week we predicted that gold would fall back $20 - $30 following the trend we forecast would occur during August. Initially the markets opened in favour of a decline. However, North Korea raised its head again with the rhetoric and warnings between President Trump and Kim Jong-Un intensifying as the week proceeded, causing the US dollar to weaken, the Stock markets to fall and investors, particularly overseas investors, increasing their gold holdings, causing its price to rise $30 rather than fall by up to that amount. We did warn 2 weeks ago, that the catalyst for a rise in the price of gold and silver could be increasing tensions with North Korea, and so it came to pass. Frankly, we believed that these tensions would resurface but not for a few weeks if not months – thereby allowing prices to fall in August. It’s not to be.
President Trump on Friday increasing his warnings, and North Korea appearing to be hell bent on ignoring them, suggests that this level of high alert and concern will remain with us for a little time yet.
So for the next couple of weeks, if the tensions with North Korea reduce, we foresee gold and silver prices falling back, but perhaps not as quickly or as far as our original prediction. If tensions increase then its not rocket science to predict that gold and silver prices will remain firm and move to the upside. By how much, depends upon two maverick leaders whose actions very few of us can actually predict.
Please view our recent videos:
Trumps Threats cause Gold and Silver prices to rise - interview with Greg
https://youtu.be/ZETLrXdq1aAGold and Silver and Inner Sanctum Update – w/e 4th August 2017
https://youtu.be/6UuIBAaT_hgGold and Silver Update – w/e 28th July 2017
https://youtu.be/MniCD5aOKQoWill Trump be Impeached or become a Dictator?
https://youtu.be/hZHWpY5FDOAThe case for $600 Gold – unlikely but Interesting.
https://youtu.be/QGUZA63dHSAMicrochips inserted into your hand may soon become the rage in the US.
https://youtu.be/eobRS0Eud8wIMF announcement of lower UK and USA growth is positive for Gold and Silver prices.
https://youtu.be/MjJq2Ol0K6IGold and Silver Update – w/e 21st July 2017
https://youtu.be/syZjbsl1nxASessions will Go and Machiavelli is an amateur compared to Trump.
https://youtu.be/WIm0lYDAgQ0Gold and Silver Update – w/e 24th July 2017
https://youtu.be/xFio2LFfRjsWhy Gold and Silver Prices Have Further to Fall in 2017
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