Below you will find pages that utilize the taxonomy term “Market Report”
It’s Saturday, December 26, 2020 and this is the last Gold and Silver market report for 2020! Look to more market reports in 2021 with additional market commentary when applicable.
Gold and Silver Markets closed lower last week with Gold closing down -0.58% to $1,874.69 and Silver down -0.46% to $25.82.
Our properietary models all point to Gold and Silver being fairly valued at these levels. Any price movements above these values are considered forthy and prone to corrections.
It’s Saturday, December 19, 2020 and this is your week’s Gold and Silver market report. In a stunning reversal, Gold and Silver prices closed higher this week. While this is good news, the charts are showing that Gold is making ‘lower highs, and ‘lower lows’ on the weekly charts and Silver appears to be in a range.
Still, this up movement was welcome news for the Silverbugs who are hoping for a $30/oz Christmas.
It’s Saturday, December 12, 2020 and this is your week’s Gold and Silver market report. Gold and Silver prices closed mixed this week with Gold edging out a slight gain and Silver closing a touch lower. Both prices experienced very volatile price swings throughout the week with Gold closing to $1,839.80 (+0.02%) and Silver to $24.03 (-0.07%).
Gold had a very volatile week as is evident by the long legged doji of this week’s price action.
It’s Saturday, December 5, 2020 and this is your week’s gold and silver market report. Gold and Silver prices rebounded this week after a severe beating last week. However, all trends are now moving down now and we expect prices to generally drift lower till the end of the year.
Gold closed higher for the week to $1,835.90, a gain of +1.67%. Silver also closed higher to $24.20, up +3.64%.
It’s Saturday, November 28, 2020 and this is your week’s gold and silver market report.
Gold and Silver prices were clobbered this holiday week as more money poured out of the metals and into Stocks.
Gold closed lower for the week to $1,788.09, down a whopping -4.51%. Silver took a nosedive down to $22.63, down -7.06%.
The run ups in prices appear to be over with many Silverbugs trapped at higher prices.
It’s Saturday, November 21, 2020 and this is your week’s gold and silver market report.
The hits keep coming for Gold and Silver as both closed lower this week. Gold dropped to $1,872.59 for a loss of -0.69%. Silver dropped to $24.34 for a loss of -1.65%.
Note: Red lines are key resistance, Green lines are key support
Gold prices closed in a fairly tight range this week with buying and selling pressure seeking to establish dominance.
It’s Saturday, November 14, 2020 and this is your week’s gold and silver market report.
It was a bad week for Gold and a rough week for Silver. Gold closed lower by -3.31% to $1,885.69 while Silver closed higher for week after gapping down. However, it ended up being lower from last week’s close by -4.41% to $24.75. It goes without saying but last week was very volatile for both metals.
It’s Saturday, November 7, 2020 and this is your week’s gold and silver market report.
It was a good week for Gold and Silver now that the US elections are over. Although there is still some ballot tallying left to be done, it looks Joe Biden will become the 46th President of the United States. Congratulations!
Markets rallied and Gold and Silver closed higher this week with gains of +3.88% and +8.
It’s Saturday, October 31, 2020, and this is your week’s gold and silver market report.
Gold and Silver closed lower this week with a loss of -1.29% and -4.10% to $1,877.40 and $23.61 respectively. Both metals have failed to take out previous highs and the bearish candle from 5 weeks ago appears to have been a turning point in both of the metals uptrend. All uptrends are weakening which could mean more downward price pressure in the coming weeks and months.
It’s Saturday, October 24, 2020, and this is your week’s gold and silver market report. Gold and Silver closed mixed this week with a loss of -0.03% and +1.06% to $1,905.20 and $24.62 respectively. Both metals are still trying to break higher but can’t seem to close above the bearish candle from 4 weeks ago. We are in a protracted consolidation phase as we drift toward the Nov 3, 2020 elections.
It’s Sunday October 18, 2020 and this is your week’s gold and silver market report. Gold and Silver closed flat this week with a loss of -1.03% and -2.80% to $1,906.40 and $24.41 respectively. Both metals are trying to break higher but can’t seem to close above the bearish candle from 3 weeks ago. This is not good for the short term. It looks as though we may be entering into a protracted consolidation zone and where prices may fluctuate wildly at these levels.
It’s Saturday October 10, 2020 and this is this week’s gold and silver market report. Gold and Silver closed higher in the metals market this week by +0.98% and +4.49% to $1,926.20 and $25.11 respectively. Both metals continue to move higher from the sell off two weeks ago but the price action remains in the shadow of the large candle (sell off) from two weeks ago. If prices continue to move higher then both gold and silver will test their resistance lines in short order.
It’s Saturday October 3, 2020 and this is this week’s gold and silver market report.
Gold and Silver closed higher in the metals market this week by +2.21% and +4.05% to $1,907.60 and $24.03 respectively. Both metals are consolidating from last week’s sell off and appear to have found buyers at these levels. The market chatter is that coin and bullion investors see this pull back as a prime buying opportunity.
It’s Saturday September 26, 2020 and the Gold and Silver markets close lower this week by -4.88% to $1,866.30 and -14.88% to $23.09 respectively. Both metals have had huge run ups over the past few weeks but have hit price resistance, market volatility and profit taking. We expect prices to move lower in the short term before finding support and rebuilding their upward trend.
After several weeks trading around the $2,000 per ounce level, a new resistance line has formed at $1,960 for gold.