Archive for 'Weekly Trends'

Weekly Trends: August 23, 2014

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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 to add ...

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Weekly Trends: August 30, 2014

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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 to remain ...

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Weekly Trends: September 7, 2014

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Gold was under pressure this week from a rising US dollar and closed down ~2% at $1267.30. An improving US economy and struggling Eurozone means continued appreciation for the US dollar. The Euro hit a 14 month low this week after the ECB announced a cut in interest rates and the embarking of a quantitative easing program.

Gold did have a small move upwards on Friday (+$7.50) as the US payrolls number disappointed. The move ...

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Weekly Trends: August 16, 2014

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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 record levels.

In ...

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Weekly Trends: August 8, 2014

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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, I continue ...

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Weekly Trends: August 2, 2014

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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 consecutive negative ...

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Weekly Trends: July 26, 2014

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*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 to hit ...

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Weekly Trends: July 19, 2014

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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 rates. The ...

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Weekly Trends: July 12, 2014

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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 changed gold ...

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Weekly Trends: July 5, 2014

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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 at the ...

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