Weekly Market Report

Just when I was wondering what President Trump could do to drive the price of Gold higher, firing a black woman Federal Reserve Governor wasn’t what I was expecting... Barry Stuppler

Last Thursday it was reported that July existing-home sales increased 2% which was considered neutral for precious metal prices... Barry Stuppler

Last week began with concerns over tariffs on Gold and ended with uncertainty surrounding the status of the Russian-Ukrainian war... Barry Stuppler

Last Friday’s Gold trading started with the Financial Times reporting that the U.S. Customs and Border Protection agency stated that one-kilogram and 100-ounce bars of Gold are indeed subject to 39% reciprocal tariffs... Barry Stuppler

Last week, Gold was heading for a weekly loss early Friday, with a strong U.S. Dollar and fading hopes of any interest rate cut because of Powell’s statements at his Wednesday news conference... Barry Stuppler

After reaching a high of $3,440 last Wednesday, Gold was hit with profit-taking and dropped $100 per ounce... Barry Stuppler

Last week, Gold traded in a narrow range from a low of $3,310 to a high of $3,385 per ounce. This is an excellent example of building a base to provide support for the next leg higher... Barry Stuppler

Last week, Trump went tariff crazy and safe-haven buying of Gold drove up the price to $3,370 per ounce... Barry Stuppler

Last week, we saw a weaker U.S. Dollar (under 97, a 3-year low)... Barry Stuppler

Last week, from Monday to Thursday, Gold traded actively between $3,310 and $3,400 per ounce... Barry Stuppler