Weekly Market Report

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 . . . .

As the world continues to see economic improvements, Gold and silver are relegated to an after-thought by investors . . . .

The Gold price was on hold last week. All five-trading days, Gold closed between a low of $1,293 and a high of $1,298.50 per ounce; an unbelievably narrow high/low range of only $5.50 on low trading volume . . . .

Most of last week, Gold traded above and below the important $1,300 per ounce support/resistance level. Gold ended last week at $1,295 per ounce, down $8 on normal volume . . . .

Last Monday through Wednesday, Gold traded in a $10 High/Low range, between $1,286 and $1,296 per ounce. Then early Thursday, the President cancelled the North Korean summit and the stock market dropped 150 points but Gold/Silver rallied . . . .