Updates on how dynamic, risk-managed investment solutions are performing in the current market environment.
After falling below the 100-day and 200-day moving average the previous week, gold prices climbed above both averages and continued up through the 20-day moving average last week.
Seems like I have been mostly writing about the crazy, non-normal world we have been living in lately. And, since I just did so last Thursday, today I’m going to provide a market update that is probably a little heavy on charts and analysis.
Last week, gold prices finished the week at $1,654 per ounce, up more than 10%. This was after a volatile week that saw gold prices shoot back up to $1,700 per ounce at one point.
“These are not normal times!”
I keep hearing and reading comments to this effect, and I have to ask myself, “What’s normal in a pandemic?”
After testing lows hit during the end of last year, gold prices rebounded last week to trade around the 200-day moving average, which is currently around $1,500 per ounce. Prices closed the week at $1,484.60 per ounce.