http://illuminatisilver.comWhat will happen to Silver Prices by the end of 2018 (Part 1 of 2)
https://youtu.be/6DN-0Jbrhv8What will happen to Silver Prices by the end of 2018 (Part 2 of 2)
https://youtu.be/d52YYGijGQsWhat will happen to gold prices by end of 2018 (part 1)
https://youtu.be/i0uAErkb7Q0What will happen to gold prices by end of 2018 (Part 2)
https://youtu.be/catG9BGZoy8Today is Saturday 11th August 2018 and we are providing our gold and silver weekly update for the week ending 10th August.
Gold fell $2 last week from to $1,213 to $1,211 having hit a high of $1,217 and a low of $1,206. In sterling terms gold finished the week up £14 at £948 and in Euros it closed at 1,061 Euros up 12 euros.
Silver fell 11 cents from $15.42 to $15.31 having hit a high of $15.51 and a low of $15.26. In sterling terms, it closed at £11.99 that’s up 13 pence and in Euros it closed at 13.42 euros that’s up 0.09 euros on the week.
The Gold to Silver Ratio rose from 78.66:1 to 79.10:1
The Dow Jones closed on Friday at 25,313 down 196 points on the day and down 149 points on the week; and the NASDAQ closed at 7,839 down 52 points on the day and up 27 points on the week.
Brent Crude fell 40 cents from $73.21 to $72.81 and US Light Crude fell 81 cents from $68.49 to $67.63
The dollar index stands at 96.35 that’s up 1.19 on the week.
Gold markets bounced last week within a narrow range. It initially rose, then fell back, then rose, fell, rose, fell, rose, fell rose and fell again in the last few hours on Friday. The $1200 floor seems to be holding but we believe it is only a matter of a short time before it will be breached. However, in sterling and Euro terms gold strengthened, especially as both the Euro and the pound fell against the dollar. Now let’s look at this for just a moment.
Do you remember all of those so-called guru’s who have repeatedly said that the US dollar was either about to collapse or will be the first currency to collapse? Well this week has shown us exactly what we have been postulating since the start of our channel.
We are all no doubt aware of the currency crisis in Turkey with the Turkish lira falling last week and then finally experiencing an 18% fall at one point on Friday – the biggest one day fall since a 2001 crisis in Turkey. Where did most of that money go – yes, the US Dollar. Likewise, we saw stock-markets around the world react adversely, and where did that money go – yes partially into the US dollar leaving the US dollar up at least 1 full index point on the previous week.
Even with Turkish President Erdogan telling his people to sell US dollars and their gold, yes and their gold, and buy the Turkish lira to support their currency, it made little difference.
Now despite moderately good trade figures in the UK and Europe, against the US dollar even their currencies fell, proving to the world that even though we all know that fiat currency is ultimately worthless, the US dollar is one of the best of a bad bunch.
Now back to gold, its price fell, frankly because of the dollar strength. There was no real evidence of a gold sell off, its just that as gold is priced in dollars, it suffered only gently because of its rise. This coming week, we may very well see gold prices strengthen a little, as the dollar values corrects itself – unless the Turkish crisis worsens even further. However, we maintain, that gold’s overall direction will still be down for a couple of months only then to recover towards the end of the year – as we predicted in our last 2 videos on gold price prediction for 2018.
The silver charts last week were almost identical to gold. The two are moving in unison at the moment, simply because there is not much going on to differentiate them. Again like gold, silver is maintaining a relatively tight framework between $15.25 - $15.50 but as we stated in our videos on our silver price prediction a few days ago, we can see silver fall below $15 again before it then ends up at the end of the year a little higher.
We have listed our silver and gold prediction videos at the top of the notes below this video.
So what is likely to affect prices this coming week? Well on:
• Monday we have the survey of consumer expectations for July
• Wednesday Retail sales figures for July, Industrial production for July and the Home builder’s index for August plus other less important economic reports – so a busy day and one to watch
• Thursday we have housing starts for July
• Friday the Consumer sentiment for August.
So next week we shall see whether the situation in Turkey worsens, and whether any contagion occurs as some western banks have a degree of exposure there. We shall also see how the North Korean situation plays out and further issues concerning Iran.
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