Gold and Silver weekly update for w/e 29th January 2016 - by illuminati silver

2,046 views · Published 30 January 2016 · 6:12 · Indexed 8 November 2026

Channel: The 2% Brief · 2016 · People & Blogs

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Gold and Silver Update w/e 29th January 2016.

Today is Saturday 30th January 2016 and we are providing our brief gold and silver update for week ending 29th January.

Gold rose in US dollar terms last week by $21 from $1097 to $1118 having been as high as $1127 and as low as $1078. In sterling terms it rose by £15 and in Euro terms it also rose by 15 Euros.

Silver rose 23 cents from $14.04 - $14.27 having reached a high during the week of $14.53 and a low of $13.69 though this dramatic low lasted all but a few minutes. In sterling terms it rose by 18 pence, and also by 0.18 Euros. The Gold to Silver Ratio rose slightly from 78.2:1 to 78.35:1

We predicted a further strength in gold and silver for last week, and this actually occurred in dollar, sterling and Euro terms. Technical traders see a little strength in both gold and silver for next week with support for gold at the $1100 and resistance for silver at the $14.60 – though some analysts see the resistance level at $14.50.

The Dow Jones closed on Friday at 16,466 up 396 points and the Nasdaq closed at 4613. Friday saw quite strong rises in all markets including Asia, Europe and the Americas. The dollar index stands at 99.60 continuing its previous week’s strength although by a much smaller percentage.

Gold appears to have found a base at this stage and silver too appears to be holding its own. We see markets beginning positive next week, and as we enter the Chinese New Year also see commodities holding up. Of course should stock markets continue to rise, then the envisaged funds planned for investment into gold may not occur which could temper its rise and that of its poorer cousin silver.

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