Weekly Market Report

Gold ended October at $1,783 per ounce, up $27 for the month, but under the key $1,800 price level . . . . Barry Stuppler

Last week was the fourth week in a row that Gold increased in price . . . . Barry Stuppler

Last week we saw a lot of volatility in the precious metal markets . . . . Barry Stuppler

Last Friday it was reported that U.S. employers added just 194,000 new jobs in September, well below expectations . . . . Barry Stuppler

Gold sold off early last week, reaching a low of $1,721 in early Asian and European trading Thursday. As trading rolled out of Europe and into the U.S., the buyers and volume came back . . . . Barry Stuppler

Last week Gold tested the $1,750 level on both Thursday and Friday, reaching a low of $1,737.50 before finding sizeable buying from central banks and bargain buyers. . . . Barry Stuppler

With our U.S. Dollar making a one month high of 93.23 and a Federal Reserve announcement being released this week . . . . Barry Stuppler

After rallying four weeks in a row since reaching the August 9th low of $1,675, Gold saw profit taking last week and closed at $1,788 per ounce, down $41 for the week . . . . Barry Stuppler

After reaching a yearly low of $1,675 per ounce on August 9th, Gold closed higher for three straight weeks . . . . Barry Stuppler

Last week, strength in the U.S. Dollar moved up over 1%, putting pressure on the Gold price . . . . Barry Stuppler