Updates on how dynamic, risk-managed investment solutions are performing in the current market environment.
Last week, gold prices hit a seven-year high, breaking through the $1,700-per-ounce level and closing at $1,752.80 per ounce—a gain of more than $100 per ounce (see the following chart).
One of my favorite novels is Joseph Heller’s 1961 best seller, “Catch-22.” As a teenager, I found the novel hilarious and surprisingly relevant given my father’s experiences in the U.S. Army Air Corps. He, like the chief protagonist in the novel, flew bomber missions in World War II. He spent three years dealing with the Air Corps’ regulations and bureaucracy, and he loved, as Heller did in the novel, to recount their absurdity.
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.