Gold and Silver weekly Update – w/e 23rd February 2018
922 views · Published 24 February 2018 · 5:44 · Indexed 6 November 2026
Channel: The 2% Brief · 2018 · People & Blogs
http://illuminatisilver.com http://facebook.com/illuminatisilver Gold and Silver weekly Update – w/e 23rd February 2018 Today is Saturday 24th February 2018 and we are providing our gold and silver weekly update for the week ending 23rd February 2018. Gold fell $23 last week from $1,352 to $1,329 having hit a high of $1,352 and a low of $1,321. In sterling terms gold finished the week at £951 that’s down £12, and in Euros it closed at 1,080 Euros that’s down 9 Euros on the week. Silver fell 13 cents from $16.67 to $16.54 having hit a high of $16.75 and a low of $16.40. In sterling terms it closed at £11.84 that’s down 4 pence and in Euros it closed at 13.44 euros that’s up 0.02 euros. The Gold to Silver Ratio fell from 81.10:1 to 80.35:1 The Dow Jones closed on Friday at 25,309 up 347 points on the day and up 90 points on the week, and the NASDAQ closed at 7,337 up 127 points on the day and up 98 points on the week. Brent Crude rose $2.47 from $64.84 to $67.31 and US Light Crude rose $1.87 from $61.68 to $63.55 The dollar index stands at 89.88 that’s up 0.78 on the week. Gold markets fell from the start of the week slightly recovering towards the end of that week. A stronger dollar and the FED minutes tended to persuade markets that interest rate rises are on the horizon. With inflation at 2.9% and other industrial costs rising above this figure, it will be necessary for an interest rate rise to occur within the next 2 months. This will strengthen the dollar and cause gold prices to fall back a little. Technical analysts believe that the area between $1350 and $1400 is highly resistive and should prices break this and rise above $1400 then $1800 is in sight. We think that’s a little optimistic as we forecast $1200 - $1450 being the trading range for the next couple of months. The trading range for silver is in our view $15 - $18.50 for the next couple of months. With the GSR in the 80’s silver is looking the better proposition of the two metals with corrections occurring soon. However we still see some short term downward pressure as interest rates rise and until the recovering stock markets falter again. Watch out for political news during March especially Robert Mueller’s announcements and the possibility of Kushner falling under the microscope. We stated 6 months ago that our reports were that 13 people were going to be indicted and took a lot of criticism for that. Well to date 4 Americans, 13 Russians and 3 Russian firms have been indicted and our latest reports are that March should see at least another 3 and possibly 5 being so again, with Kushner being the prime target in this next thrilling instalment. The reason we mention this is that this political unease will undoubtedly affect markets and the value of the dollar at least to a nominal degree, and is something we should all be acutely aware of. Please view our latest videos: Gold and Silver weekly Update – w/e 16th February 2018 https://youtu.be/k19K0EZnaLo Gold and Silver weekly Update – w/e 9th February 2018 https://youtu.be/gq8mpKtzFhg Gold and Silver weekly Update – w/e 2nd February 2018 https://youtu.be/Hyh4dHB5Xt8 Gold and Silver weekly Update – w/e 26th January 2018 https://youtu.be/NjmiQVMzl28 Gold and Silver weekly Update – w/e 19th January 2018 https://youtu.be/dL5xRTUsUxc Gold and Silver weekly Update – w/e 12th January 2018 https://youtu.be/eTtTiV3DdX0 Gold and Silver weekly Update – w/e 5th January 2018 https://youtu.be/qhqCXruukyE Gold and Silver weekly Update – w/e 29th December 2017 https://youtu.be/4W4IpdcqImk Gold and Silver weekly Update – w/e 22nd December 2017 https://youtu.be/AM5rFWFLSFw Gold and Silver weekly Update – w/e 15th December 2017 https://youtu.be/O-9uwEHNCCg Gold and Silver weekly Update – w/e 8th December 2017 https://youtu.be/giv2bKiy2HY Gold and Silver weekly Update – w/e 1st December 2017 https://youtu.be/dGGrfDMqFsw
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