Weekly Market Report

Last week, precious metal prices were negatively affected by the lobbying of Congress and the President for the first tax reform legislation in the past 31 years . . . .

Last week Gold traded between $1,316 and $1,340 per ounce, as it continued to build a base after recent gains, taking it above the important $1,300 level . . . .

September has started with gold continuing to set new 1-year highs . . . .

The price of gold rose to a one-year peak on Thursday after the dollar tumbled on the back of weak U.S. jobs data and an unchanged growth and inflation outlook from the European Central Bank . . . .

August was a super month for Gold investors with Gold rallying $49 per ounce during the month. The rally continued on Friday . . . . 

Despite significant US dollar weakness, gold price performance has been muted recently. It has been held back by factors such as a rebound in real interest rates and increased stability in the Chinese yuan, which has dampened near-term investment demand for gold in China . . . .

While everyone pays such close attention to every tick of the stock market and the cryptocurrencies, gold has been quietly flying under the radar. Not many have noticed that it’s now outperforming the S&P 500 so far this year . . . .

Last Friday, as Gold approached its recent high of $1,280 per ounce some news overshadowed the rally . . . .

Another great week for Gold investors as the price stayed above the key $1,250 per ounce support/resistance level . . . .

One of the big stories missing in the mainstream media this year is the fact that gold is up nearly 10% while the bulk of all other commodities are down – often by 10% or more . . . .