Weekly Market Report

GOLD Last week was excellent for Gold investors with the price up $65 (3.7%), closing at $1,751.30 per ounce on Friday.  Gold trading last week ranged from a low of $1,686 to a high of $1,767 per ounce on excellent volume.  The Central Bank of Korea reported the purchase of another 15 metric tonnes of gold in November, in addition...

GOLD The lack of agreement on a unified monetary policy between the European Financial Ministers and the Central Bankers has driven down the world’s equity, energy, commodities, and precious metal markets in the last two weeks.  The uncertainty of the past two weeks caused Gold to drop only $100 per ounce (5.9%) with no change in the bullish fundamentals. Gold...

GOLD Last week was very difficult for gold investors. The gold price dropped $63 per ounce (3.53%) for the week, ending at $1,725.10 per ounce.  The volume of trading in Asia, Europe, and the United States was higher than average with an $86 high/low price range.  If we don’t see progress on a Eurozone solution or from our Congressional Super...

GOLD Gold had another up week, a $152 per ounce increase in just the last three weeks.  The volume of gold trading is increasing globally and volatility is growing. As the market price moves closer to a new all-time high I expect this scenario to continue. Last week, as in the past few months, the primary mover of the precious...

GOLD Last week Gold traded in a very narrow price range, closing the week up $8.10 at $1,755.40.  Gold closed above $1,700 per ounce over the past nine trading days, building an excellent base to reach an $1,800 per ounce resistance level sometime this week. Last week Gold was surprisingly strong given that we had a very strong dollar versus...

GOLD What a week for Gold investors, Gold was up $111 per ounce (or 6.79%) in just five days.  It broke through the $1,700 psychological resistance price level on excellent volume and global demand. This breakout signals the acknowledgment that more quantitative easing is coming. The monetary stimulus (printing over 1 Trillion Euros) is the key element in last week’s...

GOLD All the conflicts and mixed messages that have come from European financial leaders during the 13 emergency summit meetings in the past 21 months continued last week.  This indecision is causing much higher volatility in both gold and silver pricing. Gold and Silver trading volume was much higher every day last week compared to the prior week.  Higher trading...

GOLD Gold got back on track last week after September’s price correction, up $47.20 per ounce (2.8%) for the week. It closed the week at $1,683.80, which is the high end of the recent trading range. Demand is not just coming from Asia at the current price (which is down $240 from the September highs) and buying is increasing globally...

GOLD Last week was calm compared to last month. Gold was up $13.50 for the week, closing at $1,635.80 per ounce on respectable volume.  The European sovereign debt and banking solvency problem remains on the forefront of news and is affecting the world’s precious metal and equity markets. (Read more details below) Eurozone nations and bank debt downgrades kept coming...

GOLD Gold was up $200+ per ounce during the month of August, and down $200+ in the month of September. Gold is virtually the same price as it was two months ago. In September gold reached a new all-time record high of $1,920.80 per ounce. The volatility that we are seeing in the World’s Gold markets the past two months...