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Gold and Silver Update – w/e 20th January 2017

2,470 views · Published 21 January 2017 · 7:01 · Indexed 24 October 2026

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

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Gold and Silver Update – w/e 20th January 2017

Today is Saturday 21st January 2017 and we are providing our gold and silver weekly update for the week ending 20th January.

Gold rose in US dollar terms last week by $12 from $1197 to $1209, having hit a high of $1218 and a low of $1196. In sterling terms gold finished the week at £977 that’s down £5, and in Euros it closed at 1130 Euros that’s up 5 Euros on the week.

Silver rose by 26 cents from $16.81 to $17.07 having reached a high of $17.33 and a low of $16.75. In sterling terms it closed at £13.79 that’s unchanged for the week and in Euros it closed at 15.94 euros that’s up 0.15 Euros. 

The Gold to Silver Ratio fell from 71.25:1 to 70.82:1

The Dow Jones closed on Friday at 19,827 up 94 points on the day and down 58 points on the week, and the NASDAQ closed at 5555 up 15 points on the day and down 19 points on the week.  

Brent Crude was down $1.61 at $55.49 and US Light Crude was up $1.15 at $53.22

The dollar index stands at 100.74 that’s down 0.44 on the week.

Last week we stated that gold would be highly resistive at $1200 but we could see it touching $1220 – well in fact it briefly touched $1218 and then fell back as the inauguration approached. In sterling terms it was little changed on the week and it dollar terms it was up just $12 an ounce more or less in line with our view that the week would end little changed from the beginning.

Silver markets essentially followed gold and ended the week up 26 cents and frankly everything was based on the inauguration of Americas 45th President.

Next week is crucial and frankly we are sitting on our hands and doing nothing until we can see how it pans out. We can envisage precious metals both rising and falling, what we do not know is the bag of tricks President Trump has to reveal. Markets may still be nervous, though they may very well like the America First message. So if we were gambling men, we would expect ultimately next week gold and silver prices to fall a little by the end of the week. We certainly expect them to fall by 5% - 10% by the end of February if not sooner.

Please view our recent videos:

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

Gold and Silver Update – w/e 13th January 2017
https://youtu.be/lWrc8Nzrk0g

Is the World Economy Recovering or Faltering?
https://youtu.be/4rwJXtaOXQA

The Liquid element of a precious metal portfolio – by cabadjo.
https://youtu.be/LZVEV7rJMuc

Zero Hedge Headline debunked for Exaggeration or Scaremongering.
https://youtu.be/KtOst5V0QH4

China’s Finance Ministry expects 6.7% growth for 2016
https://youtu.be/mdhjfjXkXWA

Gold and Silver Update -  6th January 2017
https://youtu.be/7Bryoj9lLkw

Jobs Figures Disappoint but still suggests lower gold and silver prices ahead 
https://youtu.be/7wiPEmzRSGU

First Silver Unboxing of 2017 - Illuminati Silver
https://youtu.be/QLiXw2UQPzI

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