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Gold continued to trend above the 200-day moving average, closing the week at $1,840.00 per ounce.
I guess it is becoming increasingly common to have someone say, “I caught the virus.” Well, I tested positive on November 28. But I don’t feel like I caught the virus. I feel like it caught me. After all, I didn’t run after the virus—I tried to evade it.
The major stock market indexes were up last week, with the Dow and S&P hitting all-time highs. The NASDAQ composite led with a gain of 2.1%, the Dow Jones Industrial Average gained 1.0%, the S&P 500 Index rose 1.7%, and the Russell 2000 gained 2.0%. The 10-year Treasury bond yield rose about 13 basis points, as Treasury bonds fell for the week. Spot gold gained 2.7%. International developed rose 1.2% and emerging markets rose 1.6%, showing a bit more strength.
Last week, the gold spot price was up 2.86% and the U.S. Dollar Index was down 1.19%.
U.S. equity markets posted gains in all three indexes last week. The NASDAQ Composite gained 2.12%, the S&P 500 gained 1.67%, and the Dow Jones Industrial Average gained 1.03%.