Weekly Market Report

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 . . . .

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

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 . . . .

What a great week for Gold investors with Gold up all five days . . . . 

After reaching a low of $1,204 last Monday, Gold started on the road back to $1,300 per ounce . . . .

Last Monday, Gold dropped $23 per ounce, breaking below the important 200-day moving average of $1,230. Afterwards, Gold quickly dropped below $1,220, when the sentiment on the trading floor turned negative . . . . 

Last week Gold traded between $1,236.50 and $1,259 per ounce, closing at $1,242.30 per ounce on Friday, down $14 for the week. It was a disappointing week for Gold investors . . . .

Last week we saw Gold break below the key $1,250 support level, reaching a low of $1,241.70 per ounce. On June 6, Gold made its second attempt at breaking above the key $1,300 . . . .