Updates on how dynamic, risk-managed investment solutions are performing in the current market environment.
Last week, gold prices continued to find support around $1,900 per ounce.
Last week, we noted that gold’s price consolidation had completed a “pennant” formation.
Gold continued to consolidate around $1,950.00 per ounce last week, closing at $1,934.30 per ounce on Friday. This extended consolidation pattern provides a buying opportunity in the current gold bull market.
Last week, gold bounced back after a down week, reaching $2,000 per ounce before closing at $1,947 per ounce.
After setting new highs by breaking $2,000 per ounce the previous week, gold prices retraced, closing at $1,949.80 per ounce last week.
The price of gold climbed well past $2,000 per ounce last week, closing at $2,028 per ounce. Gold’s year-to-date gain as of August 7 was over 28%.
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.