Weekly Market Report

During U.S. trading last Wednesday, October 14th, the Gold price reached a low of $4,065 per ounce... Barry Stuppler

U.S. interest rates and the U.S. Dollar reached a 3-year high last week... Barry Stuppler

The long-term picture for the Gold price has never looked better . . . . Barry Stuppler

Last week was not a good week for Gold investors, with the U.S. Dollar and oil moving higher and no good news coming on the Iranian war . . . . Barry Stuppler

On Wednesday, Federal Reserve Chairman Kevin Walsh announced that the Fed was increasing interest rates by ¼ percent, and markets became active... Barry Stuppler

Our domestic indicators and the Iranian war weren’t the only news that influenced the price of Gold last week. Record Gold buying by the world’s largest central banks in August is bullish. . . Barry Stuppler

Over the long weekend, the Iranian war has heated up, with the average number of ships traveling through the Strait of Hormuz falling to the lowest levels since May. . .

Federal Reserve chairman Warsh said that inflation was a bigger concern than a slowing labor market. . . Barry Stuppler

August has been an extraordinary month for Gold. It started the month at $4,039 per ounce and reached a high of $4,632 per ounce during US trading this morning. A $593 increase (over 14%) in 21 days. At the start of this month, I stated that Gold would reach $4,500 by month end and $5,000 by year end. I have definitely underestimated... Barry Stuppler

Last night we saw excellent demand for Silver during trading in overseas markets, as it quickly moved above $65 per ounce. Silver moved above $66 during Chinese trading, reaching a high of $66.35 per ounce. But, saw short-term selling in India... Barry Stuppler