Weekly Market Report

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 . . . .

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

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 . . . .

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 . . . .

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 . . . .