from Gold Silver Worlds:
In his weekly market review, Frank Holmes of the USFunds.com summarizes this week’s strengths, weaknesses, opportunities and threats in the gold market for gold investors. Gold closed the week at $1,294.49 up $14.04 per ounce (+1.10%). Gold stocks, as measured by the NYSE Arca Gold Miners Index, lost 1.23%. The U.S. Trade-Weighted Dollar Index rose 2.60% for the week.
Gold Market Strengths
Russia, the world’s fifth biggest holder of gold, boosted reserves for a ninth month in December, while its reserves jumped the most in six months. The country has more than tripled its gold reserves since 2005 and holds the most since at least 1993. The precious metal accounts for about 11 percent of Russia’s total foreign reserves.
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