Archive for 'Weekly Trends'

Gold

The yellow metal continues to struggle as the US dollar powers higher closing at $1231.50. The Fed meeting next week will be very important for gold. Investors will be looking for clues on when a potential interest rate hike may take place. Technical selling has also added to the decline in the gold price, but gold bulls argue that the USD has had too much of a run and needs to pullback.

The political ...

Gold

Gold is now at an 8 month low, closing at $1216.60 per ounce. That is down $15 on the week. Trading began fairly quiet this week. In fact, on Wednesday, gold actually closed at $4.50 higher than last Friday’s close.

However, the big headwind for gold is the continuing strength of the US dollar, which is now up 10 weeks in a row. The Fed announced on Thursday that a faster hike in ...

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 continues to trade around the $1,300 level, closing at $1,306.20 per ounce. As has been the story for the last several months, political risk is supporting the price and the US economy’s recovery is putting pressure on it. The World Gold Council issued a report on Thursday, stating a 16% drop in global gold demand in the second quarter. The report states that gold production remains strong and is at ...

 
The yellow metal finished Thursday at $1,312.50 per ounce. So far this week, weakness in general equities and escalating tensions between Russia and Ukraine have pushed gold slightly higher. It is interesting to note that the US dollar traded at its highest levels since September 2013. The European Central Bank announced on Thursday that interest rates will remain low for an extended period of time.
 
In the short term, ...

It was an interesting week for gold. The yellow metal finished the week at $1,294.80 per ounce, down $13. Gold did get a bounce on Friday, finishing up $13.40 after the US jobs report data was released. The unemployment rate climbed to 6.2%, which could mean the Fed will push back the rising of interest rates. The bounce was not enough to offset losses earlier in the week and marked the third ...

*Note: There will be no charts for gold, silver or platinum this week. Our usual source for this information was down.

A quiet week for gold, finishing the week at $1,307.70 per ounce. The price of gold closed at a five week low, and this marks two consecutive down weeks. Gold bears point to an improving US economy, with better than expected US durable orders for June released this week. US equities continue ...

A volatile week for gold, finishing the week at $1,309.40 per ounce. Gold fell sharply on Monday, as it started the week on a large sell order and profit taking, ahead of Janet Yellen’s testimony on Tuesday. Thursday saw a quick spike due to the news of a Malaysian plane being shot down. Gold bears continue to point to a lower gold price, as the US economy recovers and will raise interest ...

A positive week for gold, as the yellow metal hit four-month highs, closing at $1,337.40. Gold is now up approximately 11% percent in 2014, after losing 28% in 2013. This week is the sixth consecutive weekly gain for gold, as a slow and steady rise is keeping the bulls happy. Gold rallied following the FOMC minutes on Wednesday, which stated QE will likely wrap up in October.

The Indian government has not yet ...

Another week with no substantial move in gold. Gold closed the week at 1320.40, up $3.12 from last week’s close of 1317.18. Stronger than expected US job numbers show the unemployment rate at 6.1%, which would be a six-year low, and has the gold bears out in full force. If you have confidence in the US data, the economy is recovering, which would be bearish for gold. Gold bulls will be looking ...