The Phaserl


Weekly Gold Market Review

from Gold Silver Worlds:

In his weekly market review, Frank Holmes of the summarizes this week’s strengths, weaknesses, opportunities and threats in the gold market for gold investors. Gold closed the week at $1,171.82 down $18.73 per ounce (-1.57%). Gold stocks, as measured by the NYSE Arca Gold Miners Index, lost 3.76%. The U.S. Trade-Weighted Dollar Index gained 0.58% for the week.

Gold Market Strengths: Shanghai Gold Exchange withdrawal volume came in at 37.1 metric tonnes for the week, reaching 982.7 metric tonnes for the year. The U.K. Royal Mint announced that its Signature Gold online service will allow investors to buy part of 400-ounce bars, to be stored in its vault. Customers will be allowed to buy and sell throughout the day but cannot take physical delivery as the Mint will remain the custodian for the bars.

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