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Gold and Silver Update – w/e 14th July 2017

1,754 views · Published 16 July 2017 · 6:47 · Indexed 31 October 2026

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

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Gold and Silver Update – w/e 14th July 2017

Today is Sunday 16th July 2017 and we are providing our gold and silver weekly update for the week ending 14th July.

Gold rose $16 last week from $1,213 to $1,229 having hit a high of $1,231 and a low of $1,205. In sterling terms gold finished the week at £938 that’s down £3, and in Euros it closed at 1,071 Euros that’s up 8 Euros on the week.

Silver rose 37 cents from $15.62 to $15.99 having hit a high of $16.05 and a low of $15.21. In sterling terms it closed at £12.21 that’s up 9 pence for the week and in Euros it closed at 13.94 euros that’s up 0.24 euros. 

The Gold to Silver Ratio fell slightly from 77.66:1 to 76.86:1

The Dow Jones closed on Friday at 21,637 up 84 points on the day and up 223 points on the week, and the NASDAQ closed at 6,312 up 38 points on the day and up 159 points on the week.  

Brent Crude rose $2.20 from $46.71 to $48.91 and US Light Crude rose $2.31 from $44.23 to $46.54

The dollar index stands at 95.15 that’s down 0.85 on the week.
Last week we saw a rise in the value of gold by some $16 on the week as economic data and Janet Yellen’s comments suggested that interest rates were unlikely to rise again this year. Well that’s what some commentators are saying but not us. On Thursday we published a video “Why gold and silver prices have further to fall in 2017” – and we did so because our interpretation of Yellen’s comments was not that interest rates would not move up again this year, but actually the opposite. They are likely to move up again but that it won’t be long before they reach that level where the FED believes they can be maintained for a long time. 
 
In fact, the gold rally, some $20 from its week’s low, is quite tiny considering the perceived dovish tones, whereas the stock-markets rallied and will in our opinion continue to do so. We see gold moving this week between $1200 - $1240 and then breaking down again below $1200. 

Silver markets found $16 extremely resistive, having only just managed to hit $16.05 and then fell back again below $16. We again, as with gold see silver prices falling back and heading to breach that $15 level over the next few weeks. 

If one carries out a brief analysis of the dollar they will see that the dollar fall this week almost exclusively caused the value of gold and silver to rise by a similar amount, when frankly, with so many people believing that interest rates will not rise should have caused gold and silver to rise to a greater extent if it were not for the fact that investors see equities as a better proposition right now.
We maintain our bearish stance for gold and silver for the next 3 – 4 weeks, unless of course some significant political and military action occurs.

Please view our recent videos:

Why Gold and Silver Prices Have Further to Fall in 2017 
https://youtu.be/GfVAuc3NH5k

Gold and Silver Update – w/e 7th July 2017
https://youtu.be/qcmhf3fpym0

Fed Rates rise means no more rises until December 2017
https://youtu.be/zpytrGMxCI0

Did FBI Director Comey deliberately help President Trump down the path of impeachment?
https://youtu.be/tFEMGs3f-Po

President Trump fires FBI Director Comey - our Initial Musings
https://youtu.be/2r7ivH7Prb0

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