U.S.–China tariff war: Round 2

Gold ended the week down $13.50, closing at $1,241.00 per ounce. The dip was caused by the continued rise of the U.S. dollar and investor belief that the Federal Reserve will continue to raise interest rates. Neither the Fed’s historical inability to get ahead of...

“Biggest trade war in economic history”

Gold ended the week up slightly at $1,254.50, again holding just above the $1,250-per-ounce support level. This sideways movement mirrored the U.S. dollar, which has stalled and ceased its upward trend. Everything was on hold as investors tried to figure out if the...

Tariff wars equal a confused Fed?

Gold ended the week down at $1,252.40, just above the $1,250-per-ounce support level. The U.S. dollar retreated from recent highs but remained in the strong uptrend it has been in since mid-April (see chart). However, European Union leaders reached an agreement on...

Tariff wars equal higher prices

Gold ended the week down $13.10, closing at $1,268.90. Going back to the high of $1,450 per ounce in 2014, we see a classic “pennant” formation that shows price consolidation, which generally precedes a breakout (see chart). One of the major catalysts for a breakout...

The big trade war: China

Gold prices ended the week down about 1.7%, closing at $1,282.00 per ounce, which is still near the $1,300 per ounce support level (see chart). After showing he could be tough even with allies on trade at the G-7 meeting in Canada, President Trump turned his attention...

Tariff battles

Gold prices closed up a little last week at $1,303.50 per ounce, still holding around the $1,300-per-ounce support level. This is ahead of a full week of economic and political events: President Trump is scheduled to meet North Korea’s leader Kim Jong Un, Russian...