Weekly Market Report

Gold hit a low of $1,765 per ounce last week on margin calls and panic selling. . . .Barry Stuppler

Since the beginning of June, Gold has traded between $1,855 to $1,919, as Gold consolidates the recent gains. Physical and futures demand continues to grow every time Gold gets near . . . . (Barry Stuppler)

As the Gold price moved up, from its March 31st, 2021 low of $1,677 per ounce to its June 1st high of $1,919, we saw several corrections. . . .Barry Stuppler

The Gold rally continues, hitting a high of $1,917 per ounce last night. . . . Barry Stuppler

After breaking above the key $1,800 level on May 6th, Gold kept on moving higher last week. . . . Barry Stuppler

Gold broke the very important $1,800 per ounce resistance level on May 6th and has closed above that level for the past six trading days. During that period, Gold has traded between $1,808 to $1,848 per ounce . . . . Barry Stuppler

May started on a high note for Gold investors with the Gold price increasing $63 per ounce. Just last week, Gold broke out above the key $1,800 per ounce resistance level on Thursday . . . .

The month of April ended with Gold at $1,767.30 per ounce, up $51 for the month. Gold stayed above $1,725 all month . . . . Barry Stuppler

Last week Gold showed excellent fresh demand and price support. Gold reached a high over $1,790 per ounce four of the five trading days before seeing some price consolidation . . . . (Barry Stuppler)

The key factors to last week’s Gold break out was lower U.S. 10-Year Treasury yields and a drop in the U.S. Dollar Index . . . . Barry Stuppler