GOLD REACHES A NEW ALL-TIME HIGH OVER $3,126 PER OUNCE
| Stuppler & Company is proud to provide our clients this Weekly Market Report (WMR). The report gives you my overview of the prior week’s precious metal and rare coin market activity and news. In each WMR, I share the current status of Gold and Silver along with their support and resistance levels. |
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This Week's Headlines: |
Gold closed with a bullet last Friday at $3,086.50 per ounce, a new record all-time high. Gold is up $249.50 (8.8%) for the month of March and up $456.70 (17.4%) since the beginning of 2025.
While Gold and Silver are moving higher, other financial markets and the U.S. Dollar are moving lower. Why? A strong possibility of a global trade war which was accelerated by President Trump’s announcement on Tuesday of many new tariffs. Adding to the domestic chaos is the thousands of firings of Federal workers in many popular agencies.
The big question for Gold is: What happens after reaching $3,100 per ounce? Gold is currently trading at $3,110 per ounce in Asian bullion markets in early Monday morning trading. What is the answer to the question? Well, Wednesday April 2nd, the day President Trump calls “Liberation Day” will help to answer the question. If Trump's new reciprocal tariffs start a global trade war, and we will know in a few days, Gold is going higher, much higher.
Key Economic data to watch this week:
- Tuesday: US ISM Manufacturing PMI, JOLTS job opening
- Wednesday: US imposes global import tariffs, ADP Nonfarm Payrolls
- Thursday: US Weekly Jobless Claims, ISM Services PMI
- Friday: US Nonfarm payrolls
Today:Last night in overseas trading, Gold moved through the $3,100 per ounce resistance level and kept on going. Gold set a new All-Time high of $3,126 per ounce before seeing light profit taking. Geopolitical wars and concerns about April 2nd tariff announcements were the main stimulus.
Last Friday Silver closed at $34.45 per ounce, up $1.63 per ounce, and up $3.43 since the beginning of the month. Considering the increase in demand for both physical and future contracts of Silver, it’s surprising that Silver isn’t much higher. The Silver-to-Gold ratio still remains at above 88-to-1. At some point in the very near future, I expect to see Silver over $40 per ounce, and the faster Gold moves towards $3,500 per ounce, the quicker that will happen.
Today: Silver started moving higher with Gold, reaching a high of $34.52 before seeing heavy selling. Silver clearly isn’t ready to move higher with the Gold rally right now. Let’s give Silver a little time to consolidate recent gains above $33 per ounce and build a firm base for the next leg to $35 per ounce.
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