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Gold and Silver Update w/e 2nd December 2016

2,428 views · Published 3 December 2016 · 6:40 · Indexed 6 November 2026

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

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Gold and Silver Update w/e 2nd December 2016

Today is Saturday 3rd December 2016 and we are providing our gold and silver weekly update for the week ending 2nd December.

Gold fell in US dollar terms last week by $6 from $1183 to $1177, having hit a high of $1197 and a low of $1161. In sterling terms gold finished the week at £924 that’s down £25, and in Euros it closed at 1104 Euros that’s down 13 Euros on the week.

Silver rose 21 cents from $16.54 to $16.75 having reached a high of $16.86 and a low of $16.30. In sterling terms it closed at £13.15 that’s down £0.10 for the week and in Euros it closed at 15.70 euros that’s up 0.09 Euros. 

The Gold to Silver Ratio fell from 71.52:1 to 70.26:1

The Dow Jones closed on Friday at 19,170 down 21 points on the day but up 18 points on the week, and the NASDAQ closed at 5255 up 4 points on the day but down 143 points on the week.  

Brent Crude was up $7.22 cents at $54.46 and US Light Crude was up $5.62 cents at $51.68 

The dollar index stands at 100.77 down 0.72 on the week.

From a technical trading point of view for gold, resistance is seen near the 10-day moving average at $1,189, while support is seen near $1,160.

With the FED’s decision not due until its meeting on December 13th and 14th, all eyes will now be on the Italian Referendum which takes place tomorrow. The outcome of which could cause considerable turmoil in European markets should the result emanate in the Italian Prime Minister resigning.

This could possibly re-ignite gold and silver prices somewhat, however, we still cannot help feeling that the downtrend in precious metals is still likely to continue as we move deeper into December. That said, tomorrow we are publishing a video as to why Silver could actually outperform Gold during 2017 so please do not miss it, as it contains some quite important relevant information which should help all of us to decide as to whether silver is the metal to invest in.

Please view our recent videos:

2016 Competition for our Gold and Silver forecasters 
https://youtu.be/zQGmH6eE8aE

OPEC Agrees To Cut Production - Oil rises - Gold and Silver falls
https://youtu.be/rI2-Onvm_Bs

The Case for $10,000 Gold
https://youtu.be/GQsu5UuV6V0

ECB warns of political uncertainty risk to Eurozone
https://youtu.be/jS46tUAe9co

Our Motivation for this channel – illuminati silver  explains
https://youtu.be/UrJjc1_xhvs

India – The Laboratory Test for a Cashless Society
https://youtu.be/Is3v3pcnM0o

Our Motivation behind this channel – illuminati silver explains 
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Gold and Silver Update w/e 25th Nov 2016
https://youtu.be/yGKMARFBKo8

Bloomberg predicts silver is back in a bear market.
https://youtu.be/ryWQGm7UeLA

Central Banks Gold Buying Slows Down but is still positive.
https://youtu.be/klqO3PUi8B4

Dow peaks above 19000 and its consequences for gold and silver.
https://youtu.be/GKLCkEQPP54

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