Gold And Silver Prices This Week

Saturday, June 25, 2016

Gold and silver

The big news impacting precious metals this week was the affirmative 'Brexit' vote on Thursday, as the citizens of Great Britain decided in a referendum to leave the European Union.

Global markets were in turmoil following the vote. The British Pound fell a staggering 9.4% against the Euro on the news to finish near 1.23, while the US Dow Jones Industrial Average plummeted 610 points, a 3.4% drop for the day.

Gold Price

Gold prices spiked over $110 intraday, before settling at $1,319, a new 52-week high. (Chart shows gold price from June 20 to June 25, 2016)

Weekly Price of Gold Chart

Notably, gold closed above the spike high from one week prior at $1,316, breaking out from the 5-month consolidation that had held prices in check since February. Gold looks to be on the verge of a trending move higher.

Gold Chart

Silver Price

Silver prices spiked as high as $18.25 on Friday, a $1.20 intraday surge, before falling back some to close at $17.82. (Chart shows silver price from June 20 to June 25, 2016)

Weekly Price of Silver Chart

For the week, silver closed $0.30 cents higher for a 1.7% gain, also its fourth weekly gain in a row.

Silver Price Chart

HUI

The HUI gold and silver miners index closed at 237.88, up 10.77 points or some 4.7% higher from a week prior, to a new 52-week high.

US Dollar

Finally, the US Dollar Index closed at 95.57, up 1.23 in volatile trading, a gain of 1.3% for the week.

Christopher Aaron is a former counter-terrorism officer for the CIA and Department of Defense. He has always had an independent, analytical outlook, volunteering to serve two tours in Iraq and Afghanistan from 2006 – 2009 to gather real-time intelligence for military leaders in Washington, D.C. Drawing upon his investigative skills, he turned his attention to the financial markets in the mid-2000’s and has been sharing his research and analysis for over a decade.

iGold Advisor is dedicated to providing intelligent and independent analysis of the precious metals, currency, and commodity markets. We are neither perma-bulls nor perma-bears on any asset; rather, we endeavor to maintain a focused discipline on the psychological, wave, and cycle patterns that ebb and flow continuously through all markets. You can reach Christopher at: caaron@gold-eagle.com.

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