Archive for March, 2015

Weekly Trends: March 30, 2015

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Gold

Gold was up 1.4% on the week to close the session at $1198.30 for the second straight week of gains. During early morning trading on Thursday gold broke above $1200 and pushed to a 3-week high of just under $1220 where it met the 50-day MA and bounced off the trend line. The metal was pushed down the rest of Thursday’s session and ended the day at $1203.60. This was followed on Friday ...

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Weekly Trends: March 22, 2015

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Gold

Gold was up $23.30 or 2% on the week to close at $1181.70 an ounce, thanks in large part to the outcome of the FOMC meeting. Despite removing the word “patient” from their statement, the FOMC signalled that they are in no rush to raise rates and that they will not be “impatient” in doing so. The committee lowered their growth forecast for 2015, which caught the market off guard, resulting in a ...

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Weekly Trends: March 15, 2015

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Gold

Gold was down $9.80 to close the week at $1158.40. In the process, the metal put in a fresh 3-½ month low during Wednesday’s trading. Despite that, and being down over $10 during intraday trading on Wednesday, it was interesting to notice the gold miners were actually up 4% on the day. This may have merely been investors buying the oversold gold sector, or perhaps it is indicating something else. In either case, ...

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Weekly Trends: March 8, 2015

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Gold

Gold continued its descent from the January highs as it ended the week plunging from a stronger U.S. dollar. Gold closed Friday’s session at $1168.20, down $45.50 or 3.75% on the week. Up until this week, the metal hadn’t closed below $1200 since January 2nd.

With the market-perceived strong jobs report out on Friday, investors poured into the U.S. dollar as the prospect of a mid-year rate-hike is back on the table. All of ...

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Weekly Trends: March 2, 2015

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Gold

Gold was up moderately last week, increasing $10.40 to close at $1213.70 an ounce, a small correction of the past month’s declines. Although gold put in a fresh 7-week low during intraday trading on Tuesday, the metal found support and rebounded for the rest of the week. Gold traded in a $20 range for most of the week between $1190 and $1210, with buyers continuing to show up to support the price along ...

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