Weekly Market Report

The strong U.S. Dollar continued to put pressure on Gold/Silver last week . . . . Barry Stuppler

Last week the key interest rate barometer, the 10-year Treasury Bill, moved to an 11-Year high of 3.14% . . . . Barry Stuppler

Gold started 2022 at $1,825 per ounce and the U.S. Dollar Index was trading at 90 . . . . Barry Stuppler

Last Monday, Gold reached a high of $2,003 and it was downhill for the balance of the week . . . . Barry Stuppler

The road to $2,000 per ounce for Gold got shorter last week as the Gold price increased by $30 per ounce . . . . Barry Stuppler

Last week’s precious metal trading was highly unusual and possibly a harbinger of things to come . . . . Barry Stuppler

With both the U.S. Dollar and interest rates staying strong, plus the price of crude oil dropping from $110 to $98 in just five days . . . . Barry Stuppler

Gold’s reaction to higher rates only reinforces the fact that runaway inflation, currency depreciation, a roaring commodity market, and worldwide demand . . . . Barry Stuppler

Last week we saw President Biden ban Russian gas and oil, and the price of precious metals exploded higher . . . . Barry Stuppler

Last week the Gold price traded between $1,892 and $1,974 per ounce as news about the Russian/Ukraine war . . . . Barry Stuppler