Weekly Market Wrap: Gold Up $80.54 On the Week

Gold rose on weaker US Dollar and geopolitical conflicts ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ [GOLD PRICE LOGO]( WHERE THE WORLD CHECKS THE GOLD PRICE Gold Daily - October 13, 2023 [Gold Price Chart]( ⏱️ Gold in 30 Seconds Current [Gold Spot Price]( $1,932.28 Happy Friday! We hope you've had a fruitful week of trading. In this [Weekly Market Wrap]( we take a closer look at the recent happenings in the gold market and the factors that influenced its performance. Throughout the week, gold prices experienced significant fluctuations primarily driven by key economic events. The escalating conflict between Israel and Palestine had an immediate impact on the precious metal's safe-haven appeal, causing gold prices to surge above $1850/oz as global markets reacted. Meanwhile, a weaker US Dollar, resulting from ongoing political gridlock in the US House of Representatives, further supported gold's upward momentum, with prices mainly hovering between $1870 and $1880/oz. Towards the end of the week, gold's rally intensified as it broke through anticipated resistance levels, reaching over $1925/oz. This sharp increase was seen as a preemptive move by investors seeking refuge in gold amid uncertainty surrounding the Gaza conflict. While the release of the Federal Reserve's meeting minutes reinforced expectations of potential rate hikes, it had minimal impact compared to geopolitical events. Thursday's Consumer Price Index (CPI) report showed a slightly hotter-than-expected headline CPI number, contributing to upward pressure on Treasury Bond yields and causing a brief dip in gold prices. Looking ahead, the gold market is expected to remain highly sensitive to developments in the Gaza conflict, with limited macroeconomic data acting as counterprogramming. Overall, the week's economic news underscored gold's role as a safe-haven asset amid global turmoil, influencing its impressive performance. That wraps it up! Wishing you all a great weekend, and let’s touch base next week for another market snapshot. [Read the Full Market Recap](   [BUY GOLD & SILVER AT JM BULLION]( [Shadow] 📰 Top Stories   🔥 Gold Price RECAP: September 25-29 Gold prices appear healthy in Friday morning trading. However, the moderate rally we’re seeing comes at the tail of a decidedly brutal week for the yellow metal... [Read More >](   🔥 Gold Price RECAP: September 11 - 15 Preemptive moves and delayed reactions have been the story for gold’s prices chat since Monday. While it isn’t exactly what we would have expected— or can logically explain in hindsight— the math has shaken out to a net gain for the yellow metal (as of lunchtime Friday.)... [Read More >](   [Shadow] [Twitter]( [Instagram]( Stay Informed - Get Our App! No longer want to receive these emails? [Unsubscribe](. GoldPrice.org 10440 N. Central Expressway Suite 800 Dallas, TX 75231