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Last week, gold prices continued to solidify support around $1,700 per ounce, closing the week at $1,713.90 per ounce.
Gold prices found support around the $1,700-per-ounce level, closing the week at $1,700.90 per ounce.
Despite a rally on Friday (4/24), the string of back-to-back weeks of gains for the major stock market indexes ended last week. The Dow Jones Industrial Average fell 1.9%, the S&P 500 Index slipped 1.3%, and the NASDAQ Composite gave back just 0.2%. The Russell 2000 small-capitalization index did manage a gain, rising 0.3%. The 10-year Treasury bond yield fell 4 basis points, sending Treasury bonds generally higher. Last week, spot gold was the big winner, closing at $1,729.60, up $46.78 per ounce, or 2.78%.
Last week, gold prices found support at around $1,670 per ounce, and then rallied back toward the recent high at $1,788.00 per ounce before closing at $1,735 per ounce.