Archive for 'Weekly Trends'

Gold

Gold spent most of the week in the red around the $1160 level, but experienced a surprise surge on Friday to close at $1187.90, up $9.20 on the week. The uptick came right after gold dipped from strong retail sales out of the US. In a strange trading pattern, gold made strong moves up through out the day, what many are attributing to short covering before the weekend. A similar move was seen ...

Gold

Gold spent most of the week under pressure, breaking through short term support and putting in a new floor at $1130.40 early Friday morning. However, with the release of lower then expected jobs report out of the US on Friday, coupled with Ukraine tensions flaring up, gold surged $37, up 3% on the day. Thanks to the gains made on Friday, gold was able to make back the losses incurred during the ...

Gold

We are now officially in new bear territory for gold, which is an area that we have not been in since 2010. Gold broke key technical resistance at $1,180 on Friday, falling to a four and a half year low, while finally settling in at $1,173.50. The next level of major support now appears to be between $1,052 and $1,100, with short term support at $1,150. It looks as though Goldman Sachs ...

Gold

After breaking through resistance at $1,250 on Tuesday, gold pulled back the remainder of the week to close Friday at $1,231.20, down $7.30 on the week. The pullback was due to rebounding equity markets, resulting from better than expected economic data, as well as strong corporate earning results. Outflows from Gold ETFs continue to show softening interest in gold as investors shift back into equities and away from safe haven assets. However, ...

Gold

Gold continued its rally this week, although it was slightly tepid. The price met sharp resistance at $1,250 on Wednesday, which immediately drove the price down below $1,240. Since that event, gold traded sideways in the $1,240 range for the remainder of the week closing at $1,239, up 1.3% from its close last week.

Gold benefited early this week from a broad sell off in North American and world markets. The concern about ...

Gold

After its descent to the $1,190 level last Friday, gold managed to rally this week following a brief low of $1,183.30 Monday morning. The price of gold jumped after the FOMC minutes released Wednesday indicated that interest rates will probably stay close to zero longer than expected. The committee is also concerned about weakening economies around the globe. Gold finished the week at $1,221.70 up $28.80 (2.4%) from the $1,192.90 close last ...

Gold

As a result of Friday morning’s release of better than expected US Jobs numbers, gold fell $27.10 (2.2%) to close the week at $1,192.90 per ounce. The US added 248,000 jobs in September with the unemployment rate dropping below 6% for the first time since pre-recession.

After holding its ground for the past 2 weeks, gold broke key psychological support at $1,200, and is now looking to test long-term support of $1,180. Gold ...

Gold

Gold finished almost flat on the week, closing at $1,215.40 per ounce. Gold is getting close to the key support level of $1,200. The US dollar continues to show strength as US economic data comes in as expected. On Friday, the US GDP came in as expected and is the fastest growth in 2.5 years. The US dollar continues to be the strongest currency worldwide which does not bode well for gold.

A ...

Gold dropped $26 on the week, closing at $1,280.20 per ounce. The week started with little movement in price, before dropping close to $20 after the FOMC minutes on Thursday. All signs coming from the Fed show the US economy continuing to improve. Data out of Europe continues to be weak and the US dollar has had a significant move since June. Gold has yet to start its seasonal rally. Russia continues ...

Gold had a fairly quiet week, closing at $1287.40. As the calendar turns into September, gold is entering historically its best month of the year. Gold continues to be range-bound with no catalysts to push the price in either direction. The spot price has traded in a range of <$50 in the month of August, which is the narrowest spread in five years.

In the short term, we continue to look for gold ...