Weekly Market Report

Last Friday, Gold closed at $1,205 per ounce, up $54 (5%) since the beginning of the month. What is important about last week is that on all four trading days Gold closed above the key $1,200 per ounce support level  . . . .

Last Friday, Gold closed at $1,198 per ounce, up over $22 for the second 2017 trading week in a row. At the current 2017 rate of price appreciation, Gold will be over $2,000 before October 2017 . . . .

Last Friday, Gold closed at $1,172 per ounce, up $22 in the first trading week of 2017. Last week, we saw a sizeable increase in physical, future contract, and equity demand for Gold bullion investment products  . . . .

If you’re trying to make sense of the new world order or of the latest Fed minutes, here’s some good news: A few gold watchers have it all sorted out . . . .

Last Friday, Gold closed at $1,150 per ounce. 2016 was an up year for Gold, increasing $90 (8.36%). However, most of my clients who invest in Gold . . . .

Since the election of Donald Trump, the U.S. Dollar and interest rates have soared. During this same timeframe, financial, pharmaceutical and energy stocks have led the way in the world’s equity markets’ climb higher  . . . .

Subsequent to Donald Trump’s election victory as the next U.S. President, the Dollar rallied sharply, interest rates moved higher, and financial, pharmaceutical, and energy stocks moved up. Why? Many market analysts felt that a Trump presidency, coupled with a Republican controlled Congress, would stimulate the economy  . . . .

Britain’s HSBC bank is projecting gold at $1,550 per ounce by the end of 2017. Trump’s protectionist stance in the campaign, if he follows through with it while in the White House, could trigger trade wars that will destabilize global markets, which would boost gold prices . . . .

Last week, the Trump sell-off continued with Gold reaching a low of $1,170.30 per ounce on Friday. Gold broke down below the key $1,200 per ounce support level last Wednesday, causing margin calls and hitting sell stops  . . . .

The US dollar climbed on Friday to its highest level since 2003 on continued bets on faster inflation and higher interest rates, while Treasuries resumed a sell-off that left yields at their highest levels of the year . . . .