Gold Sets Fourth Highest Weekly Close

Gold closed at $1,780.3/oz this week which is the fourth highest weekly closing price in history. The highest weekly closing price was $1,876/oz set in August 2011 and the second highest weekly close was $1,788/oz set in November of 2011. The third highest weekly close was $1,780.8/oz in October 2012 which is jut .50c above where gold closed this week.

If gold holds above $1,773/oz through the end of this month then June 2020 will mark the second highest monthly closing price in history, with the all-time monthly high being set back in August 2011 at $1,831/oz.

Outlook on gold remains bullish with the expectation that price makes a new all-time high this year above $1,923/oz which was set in September 2011.