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Gold and Silver Update – w/e 3rd February 2017

1,817 views · Published 4 February 2017 · 7:01 · Indexed 24 October 2026

Channel: The 2% Brief · 2017 · People & Blogs

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Gold and Silver Update – w/e 3rd February 2017

Today is Saturday 4th February 2017 and we are providing our gold and silver weekly update for the week ending 3rd Feb.

Gold rose in US dollar terms last week by $28 from $1191 to $1219, having hit a high of $1225 and a low of $1188. In sterling terms gold finished the week at £977 that’s up £28, and in Euros it closed at 1130 Euros that’s down 13 Euros on the week.

Silver rose by 36 cents from $17.14 to $17.50 having reached a high of $17.73 and a low of $17.06. In sterling terms it closed at £14.02 that’s up 36 pence for the week and in Euros it closed at 16.22 euros that’s up 0.20 Euros.

The Gold to Silver Ratio rose slightly from 69.49:1 to 69.66:1
The Dow Jones closed on Friday at 20,071 up 186 points on the day and down 22 points on the week, and the NASDAQ closed at 5666 up 30 points on the day and up 6 points on the week.

Brent Crude was up $1.29 at $56.81 and US Light Crude was up 66 cents at $53.83

The dollar index stands at 99.87 that’s down 0.66 on the week.
Gold prices remained moderately strong all week ending close to its weekly high having gained almost 2.5%. Silver was also strong but fluctuated quite widely but again ended the week up over 2%.

There were many factors which caused this including the latest Gold Council report showing that demand for gold in 2016 actually rose by 2% and although gold prices rose some 25% by September they fell back subsequently providing an annual gain of 8%.

Alistair Hewitt, head of market intelligence at the World Gold Council stated:

"Retail investors – having been subdued for most of the year - responded quickly to the price fall in Q4, a fact reflected by a surge in demand in the physical market…. With an equally uncertain political and economic environment likely in 2017, we expect investment demand to remain buoyant."

So all looks good for gold and silver however have you heard the term ‘follow the money’?

Well, In an interview with talk show host Charlie, Billionaire Investor Warren Buffett said, "We've, net, bought $12 billion of common stocks since the election." Indicating that he expects stock markets to rally and he is not alone.

With an investigation into Dodd Frank regulations, we can predict that President Trump will roll back many of these making it easier for banks to both lend and speculate further. This, in our opinion will give the stock markets a huge boost and do not be surprised to see 21,000 Dow quickly followed by a 22,000 Dow once these withdrawals begin to happen.

Gold and silver prices at the moment are benefiting from the fear trade and uncertainty that Trump’s policies may cause especially with regard to relations with China, Mexico and Iran – not forgetting those on the Muslim ban list. Uncertainty abounds and so we have conflicting aspects without even mentioning the prospect of a FED which may indeed raise interest rates in March or April.

There are two aspects we are confident of, if the USA can avoid military conflict then the stock market will simply rip ahead, and gold and to a lesser extent silver prices will fall. However, the slightest whiff of troop manoeuvres will move markets into a tail spin and gold and silver will rapidly become a beneficiary. This is not strictly about fundamentals right now, as we pointed out in our video yesterday. Its about politics, the positioning of power and a relatively unpredictable new President of the Unite States of America.

So we can see prices strengthen a little further short term, although they should now be falling, and this is why watching the political landscape now is perhaps more crucial than it has been since 911.

Please view our latest videos:

Why are Gold and Silver prices rising?
https://youtu.be/dgTb421JG8U

Gold and Silver Update – w/e 27th January 2017
https://youtu.be/uYjXLrNNFp0

Gold and Silver Update – w/e 20th January 2017
https://youtu.be/lQ8fThdXcNw

Inauguration Message to President Trump
https://youtu.be/vdqLJYyC4CU

Trade War with China is Possible but US likely to win
https://youtu.be/Q9AO4eSbrbo

Gold and Silver Prices during Inauguration Week
https://youtu.be/hAmpWxVuImg

Investment Schizophrenia during a Trump Presidency.
https://youtu.be/4r2dHCU6f-g

US Mint announces new Mixed Race Liberty Gold Coin
https://youtu.be/2IW_XXopNfE