Weekly Market Report

Last week was definitely an important week for precious metal owners, full of adverse news and events for the Gold/Silver price . . . .

A combination of higher interest rates (10-Year Treasury at over 3%, the highest in the past four years), and a stronger U.S. Dollar (Index is 91.43) kept Gold on the defensive last week . . . .

After hitting a high of $1,358 per ounce last Wednesday, Gold closed the week at $1,337 per ounce. Gold was down $10.60 for the week, but still up $32 for the year . . . .

With higher US inflation, a weaker US dollar and geopolitical tensions on the horizon, Wayne Gordon explains why he thinks gold prices will rise even higher in the long term . . . .

Gold rallied on Friday based on the threat of a missile attack and the increase of geopolitical problems in the Middle East . . . .

Gold is famously correlated inversely to the dollar and since the dollar has been weak of late the price is relatively strong, at just over US$1,340 per ounce . . . .

Last week, all global financial markets were influenced by announcements coming from the White House and China regarding upcoming trade tariffs . . . .

The concept of denuclearization of the Korean peninsula was the primary topic of the financial markets last week . . . .

In a January post, I showed how the price of gold rallied in the months following the 2015 and 2016 December interest rate hikes – as much as 29 percent in the former cycle, 17.8 percent in the latter. Gold ended 2017 up double digits, despite pressure from skyrocketing stocks and massive cryptocurrency speculation . . . .

Cryptocurrencies and the blockchain were thought by some to replace gold as the ultimate haven against financial calamity. Now the gold market is using blockchain to kick back at crypto and bring precious metals into the digital age . . . .