http://www.illuminatisilver.comhttp://www.facebook.com/illuminatisilverGold and Silver Update w/e 26th February 2016 - by illuminati silver
Today is Saturday 27th February 2016 and we are providing our gold and silver update for week ending 26th February.
Gold fell in US dollar terms last week by $6 from $1228 to $1222 having been as high as $1251 and as low as $1203. In sterling terms it rose by £29 and in Euro terms it rose by 15 Euros.
Silver fell 64 cents from $15.31 - $14.67 having reached a high of $15.55 closing at its low. In sterling terms it fell by 4 pence, and in Euros fell by 0.32 Euros. The Gold to Silver Ratio rose from 80.2:1 to 83.2:1 reflecting to some degree the greater confidence currently held in gold compared to silver.
The Dow Jones closed on Friday at 16639 down 57 points on the day but up some 247 points on the week, and the Nasdaq closed at 4590 up 8 for the day and up some 85 points on the week. Brent Crude was just over $2 up on the week at $35.10 and US Light Crude also up more than $2 at $32.78. The dollar index stands at 98.1 up 1.5 on the week.
Short term we see gold and silver remaining within a 5% range though gold is looking a little more attractive at this stage. Nevertheless, we still foresee no rush at present to jump into either, and for those who feel they are ‘underweight in precious metals’ could consider purchasing some on any dips from current levels.
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