Gold and Silver weekly Update – w/e 24th August 2018

4,430 views · Published 25 August 2018 · 11:27 · Indexed 25 October 2026

Channel: The 2% Brief · 2018 · People & Blogs

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Today is Saturday 25th August 2018 and we are providing our gold and silver weekly update for the week ending 24th August.

Gold rose $21 last week from to $1,184 to $1,205 having hit a high of $1,208 and a low of $1,183.  In sterling terms gold finished the week up £9 at £938 and in Euros it closed at 1,037 Euros up 2 euros on the week.

Silver rose 2 cents from $14.80 to $14.82 having hit a high of $14.88 and a low of $14.49. In sterling terms, it closed at £11.53 that’s down 7 pence and in Euros it closed at 12.75 euros that’s down 0.19 euros.

The Gold to Silver Ratio rose from 80:1 to 81.3:1.

The Dow Jones closed on Friday at 25,790 up 132 points on the day and up 121 points on the week; and the NASDAQ closed at 7,945 up 67 points on the day and up 129 points on the week.  
Brent Crude rose almost $4 from $71.83 to $75.82 and US Light Crude rose $3.03 from $65.69 to $68.72

The dollar index stands at 95.14 that’s down 0.96 on the week.

So, in view of Jerome’s comments Friday, and the political uncertainty, the next week or so will bring, we are expecting precious metal prices to strengthen next week. However, we are not convinced as yet that their prices have hit the bottom and our analysis suggests that this rise will be temporary perhaps a week or two and then a further decline towards mid – late September. If, however, the President does commit any of the actions we mention above, and especially one of the first two, then frankly all bets are off and higher prices will undoubtedly ensue. 

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What will happen to Silver Prices by the end of 2018 (Part 2 of 2)
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What will happen to gold prices by end of 2018 (Part 2)
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