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Saturday, September 22nd, 2018 - Buy Gold - Bringing you trusted gold news and gold investing information since 2006

Weekly Market Update

This week has seen another volatile week for investors, with price action once more taking its lead from debt news.

The week opened fairly steadily, but took a turn for the worse as markets once more worried about the high levels of European debt and lack of direction from its leaders. However, toward the end of the week, announcements from European Finance Ministers citing support for its indebted economies and progression toward the European Financial Stability Fund gave some cause for relief and equity markets rallied. Whether this rally will be long lived remains to be seen, but the concern is that we are in a protracted bear market that will see little overall growth for several years.

As investors returned to equities, so too did they come back to gold and the other precious metals after the recent sell off. Indeed, the fall of the previous couple of weeks seems to have been overdone, but with weaker holders now having disappeared, it may be time for the next upward leg of the bull market in gold.

LAST WEEK’S PRICES:
Gold (London Fix)                                1652     +1.41%
Silver (London Fix)                              31.98     +5.72%
Platinum (LondonFix)                          1518     +0.72%
ETF PRICES:
iShares Gold Trust                              15.97   +1.01%
PowerShares DB Gold Fund                57.18   +0.87%
Market Vectors Gold Miners                54.88   -0.27%
PowerShares DB Precious Metals       57.40   +1.06%
ProShares Ultra Short                        18.82    -2.23%

 


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