Weekly Market Report

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...

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...

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...

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...

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...

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...

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...

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...

GOLD Gold was down $38.20 last week, closing at $1,500.90 per ounce. Gold dropped $52.50 on Thursday and Friday after Fed Chairman Ben Bernanke gave no hint of the next round of quantitative easing at his news conference, and the release of 60 Million Barrels of Oil from the International Energy Agency. The U.S. will release 30 Million barrels from...

GOLD Gold was up $9.90 last week, closing at $1,539.10 per ounce. The weekly high/low range was $1,543 to $1,511.40 per ounce. The past four weeks gold was never lower than $1,503, with its average price of $1,532.86. Why is this important? Well, I believe that Gold is building its base for the next breakout, taking us to well over...