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Gold and Silver weekly Update – w/e 29th September 2017

1,010 views · Published 1 October 2017 · 5:37 · Indexed 30 October 2026

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

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Gold and Silver weekly Update – w/e 29th September 2017

Today is Sunday 1st October 2017 and we are providing our gold and silver weekly update for the week ending 29th September.

Gold fell $18 from $1,297 to $1,279 having hit a high of $1,313 and a low of $1,278.  In sterling terms gold finished the week at £955 that’s down £6, and in Euros it closed at 1,083 Euros that’s down 2 Euros on the week.

Silver fell 35 cents from $17 to $16.65 having hit a high of $17.24 and a low of $16.64. In sterling terms it closed at £12.43 that’s down 16 pence for the week and in Euros it closed at 14.09 euros that’s down 0.13 euros. 

The Gold to Silver Ratio rose from 76.29:1 to 76.82:1

The Dow Jones closed on Friday at 22,405 up 23 points on the day and up 56 points on the week, and the NASDAQ closed at 6,495 up 42 points on the day and up 69 points on the week.  

Brent Crude fell 7 cents from $56.86 to $56.79 and US Light Crude rose $1.01 from $50.66 to $51.67

The dollar index stands at 93.07  that’s up 0.90 on the week.

Last week we predicted that gold would move closer towards the $1250 level and it closed at $1,279 just $1 off its week low on Friday and that silver would move towards the $16.50 level and again closing at its low for the week save 1 cent at $16.65
September saw gold rise at the beginning and decline towards the end. We are now entering the territory which we believed it would continue its descent from before the rise first appeared. In other words, we still believe that October will see a further lowering in the gold price. Of course North Korea is the ‘wild card’ which could affect this, and Trump announcing today that his Secretary of State is wasting his time trying to negotiate with North Korea  will further add to tensions. 

However, we envisage a dollar rebound – yes to all those who have been predicting a dollar collapse by now will be sorely disappointed yet again. We now see considerable resistance at the $1300 level and frankly envisage our $1250 target being reached this week, if not even lower. With the Governor of the Bank of England hinting that interest rates may indeed rise in the UK in the short term – and possibly as early as November, then this suggests that Gold in Sterling terms too will fall in price during the coming weeks.

Silver prices have proven volatile during the past week and we envisage a similar performance in the coming weeks. For the same reasons as gold we see a softening of its price, initially towards the $16.50 level and then a gradual breakdown towards $16. 

Finally our Inner Sanctum update video which we thought we had uploaded last Tuesday was corrupted and did not appear. The fault has been rectified and will be uploaded tomorrow – apologies again for the delay.

Please view our latest videos:

Gold and Silver weekly Update – w/e 22nd September 2017
https://youtu.be/wiutKW-hQnA

Gold and Silver weekly Update – w/e 15th September 2017
https://youtu.be/WQVfRxRL3XA

Why President Trump will deal with the Democrats.
https://youtu.be/Bq6GYP4E5vY

Gold and Silver weekly Update – w/e 8th September 2017
https://youtu.be/ioaJ4ciUw1Q

Gold and Silver weekly Update – w/e 1st September 2017
https://youtu.be/LlWmSZHAnkE

Gold and Silver weekly Update – w/e 25th August 2017
https://youtu.be/X354VBI2MjU

Gold and Silver weekly Update – w/e 18th August 2017
https://youtu.be/ice-Iz2uODw

Gold Hits $1300 – Bannon is Out – Is Trump Next? 
https://youtu.be/xK0_RopCUnM

Gold and Silver weekly Update – w/e 11th August 2017
https://youtu.be/X4nOEHWcjlM

Trumps Threats cause Gold and Silver prices to rise - interview with Greg
https://youtu.be/ZETLrXdq1aA

Gold and Silver and Inner Sanctum Update – w/e 4th August 2017
https://youtu.be/6UuIBAaT_hg

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