Weekly Market Report

It’s now been 8 weeks that Gold has stayed between $1,180 and $1,220 per ounce . . . .

Just when Gold staying in the $1,190 to $1,210 price range was starting to frustrate me, a bullish article was published in a prestigious business newspaper . . . .

Last Friday, Gold closed at $1,194 per ounce, only $1 lower for the week, but down $105 (8.05%) since the beginning of 2018 . . . .

China will continue to be a major driver in the global silver market for years to come, fueled by continued industrial demand and silver mining activity . . . .

Last Friday, Gold closed at $1,195 per ounce, down $6.30 for the week . . . .

All good things must come to an end, including summer holidays and bull markets . . . .

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 . . . .