Gold & Silver Update and Forecast

#Gold #Silver #SilverForecast

Gold & Silver Update and Forecast

Today is Sunday 1st August 2021 and we are publishing our gold and silver weekly update for the week ending 30th July. This video is a repeat of the video we produced yesterday and so if you listened to that please ignore this one – if you haven’t then please enjoy. We have higher gold and silver prices and let’s see what we forecast for next week. So here goes:

Gold & Silver Prices Rise on Back of FOMC Announcement
https://www.youtube.com/watch?v=lzv7NbGO1M4&t=1s

Behind Closed Doors - Issues & Subjects Bankers Discuss
https://www.youtube.com/watch?v=7cjJp7knL5k

Why There Will Be NO Stock Market Collapse Any Time Soon!
https://www.youtube.com/watch?v=O88iHTlS9Qw

Are Equities on The Verge of Collapse?
https://www.youtube.com/watch?v=fdjYX5jG9CE

Why Gold & Silver Prices Just Crashed
https://www.youtube.com/watch?v=yrqZff70E3w

Gold rose $11 last week rising from $1803 to $1814 having hit a high of $1832 and a Low of $1794 a rise of 0.6% - Reversing last week’s losses.

In sterling terms gold finished the week at £1305 down £6 and in Euros it closed at 1528 Euros that’s down 2 Euros

Silver rose 30 cents from $25.20 to $25.50 having hit a high of $25.82 and a low of $24.51. A rise of 1.2%

In sterling terms, silver closed at £18.34 up 1 penny on the week and in Euros it closed at 21.49 euros, that’s up 0.08 Euros

The Gold to Silver ratio fell slightly from 71.5:1 to 71.1:1

Bitcoin is up $5,989 from our report of last week and stands at $39,674 it has been as high as $40,844 and as low as $32,032

The Dow Jones closed on Friday at 34,935 down 149 points on the day and down 126 points on the week.

The S&P 500 closed at 4,395 down 23 points on the day and down 16 points on the week.

The Nasdaq Composite closed at 14,672 down 105 points on the day and down 164 points on the week.

Brent Crude closed at $75.41 up $1.31 on the week and WTI Crude closed at $73.95 up $1.88 on the week.

The Dollar Index stands at 92.17 that’s down 0.74 on the week.

This coming week we have the following economic reports coming out of the US:

Monday - Markit Manufacturing PMI for July
- ISM Manufacturing Index for July
- Construction Spending for June

Tuesday - Factory Orders for June
- Motor vehicle Sales for July
Wednesday - ADP Employment Report for July
- Markit Services PMI for July
- ISM Services Index for July

Thursday - Weekly Jobless Claims
- Trade Deficit for June

Friday - Non-Farm Payrolls for July
- Unemployment Rate for July
- Average Hourly Earnings for July
- Wholesale Inventories for June
- Consumer Credit for June

So where do we see gold & silver prices moving next week, bearing in mind that we continue to a very large extent still reliant on the movement of interest rates/bond yields and the US dollar value.

So, we are expecting a little more movement in gold and silver prices this coming week – obviously data dependent – so we see gold trading between $1750 - $1875 with $1700 - $1925 as outliers – the same as last week, and silver’s range trading slightly lower between $24.25 - $26.25 with $23.75 - $27.25 as outliers.

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