Weekly Market Report

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 . . . .

Last week was very exciting. The excitement started last Wednesday when the Federal Reserve Chairman, Jerome Powell, raised interest rates by a ¼ of a percent . . . .

Last week, precious metals were primarily reacting to events surrounding the White House . . . .

The University of Texas Investment Management Co. will examine its $1 billion gold position in the portfolio of the largest public university endowment in the U.S . . . .

Last week was a very good opportunity for Gold buyers to come in, with Gold dropping $25 per ounce based on four major factors . . . .

Gold ended its short-term bearish decline last week, rallying $40 per ounce for the week. Gold closed last Friday at $1,353.20 per ounce, above the key $1,350 support level . . . .

In my article from 4 months ago about gold versus bond yields, I concluded that gold would reach $1330-1350 from the $1280 level at the time of writing the analysis. So where do we go from here? . . . .

Last Friday, with interest rates and the U.S. Dollar rising, the financial markets started to react negatively, and the Nunes memo gave the markets the momentum to drive the Dow Jones down 665 points and caused Gold to drop $10 per ounce . . . .