August 10, 2018

Gold trading mostly flat this week settling in a range between $1,217.70- $1,221.00.  Gold received a bit of a boost on “safe haven” purchases fueled by today’s news of additional tariffs assigned to Turkish imports of aluminum and steel.  Although battling to finish the week in positive territory as the $US reached its 13-month high, Friday’s release of increased inflation (CPI) for the month of July gave some additional support.  Gold’s recent low of $1,210.70 reached on July 19th should offer a technical support with $1,204.00 low reached on July 10th, 2017 as the fall back level.