• 759 days Will The ECB Continue To Hike Rates?
  • 759 days Forbes: Aramco Remains Largest Company In The Middle East
  • 761 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,161 days Could Crypto Overtake Traditional Investment?
  • 1,165 days Americans Still Quitting Jobs At Record Pace
  • 1,167 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,170 days Is The Dollar Too Strong?
  • 1,171 days Big Tech Disappoints Investors on Earnings Calls
  • 1,172 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,173 days China Is Quietly Trying To Distance Itself From Russia
  • 1,174 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,178 days Crypto Investors Won Big In 2021
  • 1,178 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,179 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,181 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,181 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,185 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,185 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,186 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,188 days Are NFTs About To Take Over Gaming?
How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

  1. Home
  2. Markets
  3. Other

Oil Breaks EUR40 Per Barrel for First Time

Weekly Markets
Precious Metals - Gold in Euros up strongly
Oil - Shell predicts 2 decades of rising energy prices
Other Commodities - Chinese demand continues
Currencies - The Euro, Oil and Gold
Bonds - Greenspan's 'Conundrum' deepens
Stocks - Toyota CEO; Top Hedge Fund Managers; Bull & Bear Markets

Weekly Commentary
The Irish Times on the 'New gold rush in town'

Opinions
Property, US Deficits, Bogus Accounting and Gold

Performance ( % Change)

Weekly Markets
Stock markets were mixed for the week.
Bond markets sold off with a corresponding rise in yields
Gold was up in dollars and euros; silver and oil were down and the majority of commodities were down.

Precious Metals

Gold was up $3.80 or 0.91% for the week. It closed at $426.90 per ounce.

Silver recent rally ended and it sold off from $7.49 to $7.27 per ounce or 3.2% for the week. It was silver's first down week in 6.

Platinum (July) was down for the week; finishing at $868 from $874 per ounce.

Gold remained flat on Friday even after the poor US trade deficit numbers. It spiked higher in the last hours of trade that sent gold upward to match 1 month closing highs and ended near it's highs. Besides a delayed reaction to the deficit numbers another reason for the positive spike in gold could have been due to the euro price of gold eclipsing the psychologically and technically important EUR350 mark, resulting in buy orders among traders.

Silver traded mixed and near unchanged overnight on Friday before falling in choppy trade in New York, but rallied back by the close to end the session unchanged at $7.25; down by $0.24 or 3.2% to give it its first losing week in 6.

Interestingly there is not one currency in the world which has outperformed the universal currency gold since the turn of the millenium.

In order to read the complete newsletter please click here or on
Gold Investments Weekly Newsletter - Oil breaks EUR40 per barrel for first time

Back to homepage

Leave a comment

Leave a comment