After Battling a Strengthening Dollar This Week, Gold Posted a Positive Week by Friday Metals were down in the early part of the week. However on Thursday it got a slight boost that it held onto through Friday. In the end gold posted a positive week despite the earlier losses. The dollar rallied this week […]
Gold Battled Headwinds Early in the week gold struggled against a rising dollar index. It managed to hold just above $1,300. Some muted geopolitical fears after North and South Korean peace talks continued to put the brakes on gold as well. There was also some sell-off, which pushed prices down further. On Wednesday though, gold prices […]
Gold Under Pressure from Rising Greenback This Week Precious metals were rallying early in the week, but faced some push back on Thursday. By Friday gold prices lifted again slightly and were sitting just over $1,320. Silver ended the week around $16.55. The resistance mid-week came from a rising dollar index. As it retreated again […]
The Price of Gold Relative to the Value of the Dollar – CHART This chart depicts the price of gold relative to the value of the dollar over the last 15 months. The price on the left is the movement in gold prices since January of last year until last month. The right side shows […]
Gold Hit Its Highest Close in 2 Years On Wednesday, gold hit its highest close in 2 years. Gold started the week at around $1,335, climbed to over $1,350 mid week, and settled around $1,345 by Friday. Silver finished the week just shy of $16.70. Silver looks poised for surge right now, in fact. Gold […]
This Week Gold Continued to Rally on Trade War Fear, Stocks Got Slammed The biggest news this week for the markets and gold was trade war fears. Gold continued to rally this week as China and the U.S. imposed and threatened new tariffs on each other. By Friday the Dow had fallen nearly 3%. The […]
Gold Is Looking More Bullish As Goldman Sachs Upgrades Gold Expectations to “Outperform” As the stock market teeters on correction mode, gold is looking more bullish. Goldman Sachs even upgraded gold outlook this week. The investment bank expects precious metals to “outperform” over the coming months. This is based partly on empirical data that shows […]
After a Volatile Week for Stocks, Gold Set To Move Higher? It was a volatile week for stocks all week with Friday marking the worst day this year for the markets. Friday saw the Dow Jones plunge nearly 700 points and it marked the biggest loss in 2 years for the Nasdaq. It was overall […]
The Dollar Hit a 3-Year Low, Boosting Gold Over $1,360 The recently falling dollar hit a 3-year low this week, and helped gold rally to its highest level in 17 months. The last time we saw gold prices reaching $1,360 was in August of 2016, and it looks like they will keep rising. Silver also […]
Investors Fleeing Bitcoin to Gold in Increasing Numbers Gold continued to hold strong above $1330 this week. There was some pull back midweek on profit taking, but by Friday it got another bump on news of a possible government shut down. While gold rose though, crytpocurrencies had another sharp drop off. This week bitcoin came […]
A Bearish Bond Market, Inflation, and Gold The “bond king”, Bill Gross, was on record this week saying that the bond market is falling. For the past 25 years the bond market has been on a roaring bull run, so there are significant implications to this turn. A bearish bond market, inflation, and gold – […]
Despite Stock Rally, Gold Kicked off 2018 above $1300 and Held on to Gains In contrast to last year, gold kicked off 2018 above $1300 and held on above $1310 for the first week of 2018. It continued its rally through trading on Friday to end the week just over $1,320. Gold just had its […]
Gold Will Continue Its climb in 2018, According to WGC The World Gold Council (WGC) released a report on Friday that predicts gold will continue its climb in 2018. This year it is up 9% and in 2016 it was up 8.5% for the year. This followed after three years of decline for gold. It […]
Fed Chief: Runaway National Debt Problem Should Keep Us Awake at Night It’s no secret that there is a runaway national debt problem in the U.S. The total national debt right now is about $20 trillion and rapidly rising. Federal Reserve chair Janet Yellen was recently on record of saying that she is worried about […]
Tax Reform and D.C. Drama Made for a Wild Week for Gold and the Markets It was a wild week for gold and the markets. The Dow went from breaking above 24,000 to falling over 350 points Friday. Gold also fluctuated rising to just under $1,300 at the start of the week to dropping below […]
Gold Broke Out Over Its 50-Day Moving Average This Week Closing out the week just over $1,290, gold broke out over its 50-day moving average this week. With gold making its second weekly gain, it was building on last week’s safe haven rally. It opened the week at $1,277. Silver opened at about $16.95 and […]
Political Developments Sparked a Gold Rally This Week Gold ended the week around $1,275 after climbing over $1,285 earlier in the week. Political developments sparked a gold rally that broke the rut that gold has been stuck in the last few weeks. Some of these political developments driving the rally were overseas, and some domestic. […]
October Spending Hit a Quarter of a Trillion Dollars The big story right now that no one is talking about is that October spending hit a quarter of a trillion dollars. October is generally considered a better month for the U.S. Treasury Department with the additional revenue of tax extension filers, but even with the […]
Dollar Index Drove Gold This Week While Treasuries Hit 5 Month High Building on recent strength, the dollar index drove gold down slightly this week. Gold prices hovered in the mid $1270 range all week. Silver started the week just short of $17 and closed lower at about $16.77. Stocks were up at the beginning […]
Gold In Holding Pattern During Quiet Week and Stock Market Highs Not much to report on precious metals after a quiet week and stock market highs keeping gold from moving up much. Starting the week, gold touched just above the $1,300 mark, but maintained roughly between $1,285 and $1,290 the rest of the week. The […]
Gold Was up This Week and Reached $1,300 Again After a couple weeks of resistance, gold was up this week and closed Friday just above the important $1,300 mark. Gold climbed steadily from the 4 week low it hit last week despite some slightly more positive global economic growth data. Geopolitics was a drive for […]
Complacency in the Markets Affecting Gold Negatively This Week The stock market continues to set new highs this week. As these records rack up, there is right now a great deal of complacency in the markets affecting gold. Gold fell slightly again this week under pressure from new stock market highs and interest rate talk. It […]
After an Initial Rally, What Weighed on Gold Prices This Week? Gold opened the week just over $1,300, but fell mid-week below $1,290. By Friday, gold had made back some of of those gains to close up. More bellicose rhetoric from North Korea sparked the initial flight to safety. So what weighed on gold prices? There […]
Gold Rally Met Resistance This Week and Prices Dipped – Buying Opportunity? A couple weeks ago gold hit a year high, but the gold rally met resistance this week and prices dipped. Gold fell most of the week, but was able to turn positive late Friday to close out the week just under $1,300. Silver […]
Metals Pull Back, but Gold Looks Poised for a Break Out After reaching $1,350 last week, gold hit some resistance this week, though it maintained its position over $1,350 to close out the week at approximately $1,325. However, gold looks poised for a break out for a few different reasons including an increasingly shaky dollar […]
A Plunging Dollar Sent Gold Higher This Week The recent metals rally continued this week as a plunging dollar sent gold higher. Gold opened after the long weekend just over $1,330 and by Friday had hit $1,350. There were many factors impacting the markets this week including the Democrats’ and Trump’s agreement on the debt […]
Gold Continues to Climb above the Crucial $1,300 Mark Reaching its highest level this year, it was another shining week for metals, as gold continues to climb above the crucial $1,300 mark. It opened the week around the $1,305 mark, and closed just over $1,320 to head into the long weekend. Fed comments, more North […]
Gold Chases Last Week’s Highs of $1,300 Last week gold hit $1,300 for the first time in 2017. Although it eased back slightly this week, still gold chases last week’s highs. Gold opened the week at $1,289 and closed at $1,290. Mid-week it climbed over the $1,290 mark to nearly reach $1,300 again. Political uncertainty […]
Volatility Rocks the Markets and Gold is Looking Bullish After a turbulent week, gold is looking bullish, and investors are flocking back to precious metals. Volatility rocked the markets stemming from political controversy in Washington. This was the controversy surrounding the President’s dismissal of FBI director Comey and his meeting with Russian state officials. The […]
Why Populism Will Be Biggest Driver of Markets According to the Largest Hedge Fund’s Manager Ray Dalio, founder of Bridgewater Associates (considered the world’s largest hedge fund), believes that populism will be biggest driver of markets and money in the future. Populism will be even more influential than monetary policy from the Federal Reserve and […]
Gold Has Hit the Low for 2017 and Is Set to Climb In December 2015, RME called the gold price bottom, and 2016 followed with a rally in metals. Once again, we are calling that gold has hit the low for 2017 already. In 2015 the price bottomed at $1,055. On January 3rd this year, gold […]