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Gold and Silver weekly Update – w/e 13th April 2018 Video

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Today is Sunday 815th April 2018 and we are providing our gold and silver weekly update for the week ending 13th April.

Gold rose $12 last week from $1,333 to $1,345 having hit a high of $1,364 and a low of $1,327. In sterling terms gold finished the week at £945 that’s unchanged, and in Euros it closed at 1,090 Euros that’s up 5 Euros on the week.

Silver rose 27 cents from $16.39 to $16.66 having hit a high of $16.87 and a low of $16.34. In sterling terms it closed at £11.70 that’s up 7 pence and in Euros it closed at 13.51 euros that’s up 0.16 euros.

The Gold to Silver Ratio fell from 81.33:1 to 80.73:1

The Dow Jones closed on Friday at 24,360 down 122 points on the day but up 428 points on the week; and the NASDAQ closed at 7,106 down 7 points on the day but up 191 points on the week.

Brent Crude rose $5.47 from $67.11 to $72.58 and US Light Crude rose $5.33 from $62.06 to $67.39

The dollar index stands at 89.80 that’s down 0.30 on the week.

Last week was basically about Syria. With President Trump warning of missile strikes (which eventually did occur Friday evening after markets closed) gold maintained a positive stance throughout the week. Positive comments from both China and North Korea tempered any further rise as did the FED comments relating to the prospects of higher interest rates this year due to robust economic growth.

Gold prices are expected to trade higher initially this week in response to the US-led missile strikes on Syria. However, providing tensions do not flare or Russia intervenes further then we can foresee a reversal, but frankly, for the moment this is the factor which will have the greatest pressure on prices in either direction this week.

Silver, all but shadowed gold last week mainly as expected. It performed slightly better in that the GSR fell slightly. Traders quote considerable resistance at or around $17 and strong support close to the $16 level. This coming week we again envisage firmer prices at the start but the rest of the week will be, to a large extent, determined by Russia, Syria, and Iran.

The World Silver Survey 2018 was published last Thursday and we shall cover this in some detail in our next video which will be published tomorrow.

Please view our latest videos:

Gold and Silver weekly Update – w/e 6th April 2018
https://youtu.be/O_uh3x2ZJH4

Will Solar Panels be the Saviour For Silver Prices?
https://youtu.be/6-LE_sQBrIE

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