Weekly Market Report

On April 18th, 2018, Gold was trading at $1,353 per ounce and the U.S. Dollar Index was at 89.48. Then, fears of a trade war among the U.S., China, and Europe hit the market place . . . .

Last week Gold briefly traded at a low of $1,160 per ounce, a low not seen since December of 2016 . . . .

In just the past few years, global asset values have risen to the biggest bubbles in history.  Unfortunately, this doesn’t seem to be a concern to the market because most people believe they are getting richer . . . .

I think last Friday was a turning point in the downward trend that we have seen in the Gold and Silver price. Our President raised aluminum/steel tariffs on Turkey, which caused a Turkish currency crisis . . . .

Gold closed at $1,214 last Friday, down $9 per ounce for the week . . . .

The first-ever industrial public-private partnership investment project undertaken by partners from all BRICS member states has been pioneered in the gold mining sector against the backdrop of the BRICS Summit held in Johannesburg, South Africa . . . .

Gold dropped from $1,310 on June 14 to $1,237 on July 3, a $63 (4.8%) correction. This correction was primarily caused by large Asian corporations and investors selling Yuan and buying U.S. Dollars . . . .

June was truly an ugly month for Gold investors. Gold started the month at $1,301 and ended at $1,251 per ounce, a $50 decline . . . .

Last week was the second week in a row that the Gold price was on the defensive . . . .

Gold reached a high of $1,309 and a low of $1,273, a $36 range, last week. Last Tuesday, Gold rose above the key $1,300 resistance level . . . .