Weekly Market Report

Category

  1. Weekly Market Report 9/06/11

    GOLD I was beginning to think that we were going to build a new price base around the $1800 per ounce level. Friday’s employment report was released, along with negative news regarding the Eurozone debt problems, causing the gold market to rally to above $1,880 per ounce. Although volume was light due to the long holiday weekend, there was a...
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  2. Weekly Market Report 8/29/11

    GOLD During this past week Gold and Silver showed us all just how volatile it can be. Monday, Gold closed at $1,891.90 per ounce up $132 from the previous week’s close, setting the stage for hitting the new all-time high of $1,912.80 early Tuesday morning.  Wednesday, gold closed down $104 per ounce and Thursday gold dropped to $1,701 on heavy...
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  3. Weekly Market Report 8/22/11

    GOLD Gold continues its upward breakout, up $109.50 last week and up $250 for the last month. Friday’s call closed at $1,852.50 per ounce, reaching a new all-time high of $1,881.40 in Friday’s Asian trading, and almost $1,900 during U.S. trading this morning.  This increasing volatility in the gold market is beginning to concern me. I believe that the World’s...
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  4. Weekly Market Report 8/15/11

    GOLD Last week was another extraordinary period for gold. Up $90.80 (5.5%) in just five trading days, gold closed the week at $1,742.60 on the heaviest trading for the month of August I have ever seen. Average volume was over 300,000 contracts a day, which is astonishing considering this is historically the weakest time of the year for gold trading...
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  5. Weekly Market Report 8/8/11

    GOLD What a week it was. There was the settlement of the Debt Ceiling Crisis, and a major announcement from the World Gold Council regarding the increasing number of Central Banks who are spending their U.S. Dollar reserves to buy Gold. Thursday we saw a 512 point drop in the DJIA (a total of a 700 point drop for the...
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  6. Weekly Market Report 8/1/11

    GOLD It appears that the President, the Congressional Republicans, and the Democrats have finally come to an agreement to settle the debt ceiling crisis. As expected, both gold and silver have sold off on this news. In Asia, Gold dropped $20 and Silver dropped $0.70 after President Obama’s debt ceiling announcement, but they quickly rallied back to virtually unchanged after...
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  7. Weekly Market Report 7/25/11

    GOLD July continues to be a very profitable month for Gold investors, now up $126.10 (8.47%) since July 1st. Gold is trading at $1,613.80 this morning after reaching $1,623.40 per ounce (an All-Time high) overnight in Asia. The main factor affecting the price of gold this past week was Debt, both U.S. and European. The Eurozone countries were able to...
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  8. Weekly Market Report 7/18/11

    7/18/2011 GOLD IS HITTING ALL-TIME HIGHS, STILL SOARING PAST $1600, AND SILVER IS OVER $40! In this week’s Market Report I discuss the reasons for Gold’s All-Time highs, and Gold as Monetary Catastrophe Insurance (MCI). My weekly reports keep you current on the latest happenings in the exciting Precious Metal and Rare Coin markets and we welcome your comments. Thank...
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  9. Weekly Market Report 7/11/11

    GOLD Gold investors were very happy last week. Gold was up every day, increasing $58.80 per ounce (3.98%) in just one week, and closing at $1,541.60 per ounce on Friday. The price increase started in Asia and the Middle East over the 4th of July holiday after gold had bottomed out at $1,478 on July 1st. Gold continued its bull...
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  10. Weekly Market Report 7/05/11

    GOLD This morning gold is back above the psychological $1,500.00 an ounce level on short covering and bargain buying. But, last week Gold was down $14.20, ending the week at $1,486.70 per ounce. Last Friday I was very surprised to see gold trading down as low as $1480. With a number of volatile issues temporarily behind us, the emotional run...
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