{"id":52606,"date":"2020-08-07T14:22:37","date_gmt":"2020-08-07T18:22:37","guid":{"rendered":"https:\/\/www.ino.com\/blog\/?p=52606"},"modified":"2020-08-07T14:22:37","modified_gmt":"2020-08-07T18:22:37","slug":"gold-hits-record-high","status":"publish","type":"post","link":"https:\/\/wwwtest.ino.com\/blog\/2020\/08\/gold-hits-record-high\/","title":{"rendered":"Gold Hits Record High"},"content":{"rendered":"<p>Gold futures in the December contract hit a new all-time intraday high of $2,089.20 per ounce Friday morning as investors poured into the safe-haven asset ahead of the closely watched jobs report. <\/p>\n<p>Gold is up about +1.8% this week, on pace for its ninth straight weekly gain for the first time since May of 2006. Gold futures, however, have since fallen about -2.2% to $2,031.10 per ounce. Spot gold dipped as well, falling about -2.1% to $2,028.70 per ounce on Friday. On a weekly level, it will still post a gain of +2.1%; it's the ninth straight week of gains. <\/p>\n<div align=\"center\" style=\"margin-bottom: 20px;margin-top: 10px;\"><iframe loading=\"lazy\" width=\"560\" height=\"315\" src=\"https:\/\/www.youtube.com\/embed\/NUl_Ka34mPc\" frameborder=\"0\" allow=\"accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/div>\n<p>The DOW just posted a \"Golden Cross,\" joining the NASDAQ and S&P 500, when it's 50-day moving average broke above its 200-day moving average, which is traditionally a bullish signal for the first time since March.<!--more--> <\/p>\n<p>On a weekly level, the DOW will post a weekly gain of roughly +3% bouncing back form back to bak weekly losses. The S&P 500 gained +2% on the week, and the NASDAQ will post a gain of almost +3% at +2% after hitting several record closes this week trading above 11K. <\/p>\n<p>Even with the record levels seen in gold, the US dollar will finish the week relatively flat, ending it's six-week skid to the downside. <\/p>\n<p>While not at record levels, crude oil continues to inch it's way higher, posting a weekly gain of +1.8% in the September contract. It traded as high as $42.39 this week. <\/p>\n<p>After posting a weekly gain of +23%, last week, Bitcoin has sold off a bit but remains to trade close to the 12K level. It had traded as low as 10,559.59 earlier in the week, but it has bounced back, only losing about -3.6% for the week.<\/p>\n<p>Nonfarm payrolls increased 1.763 million for the month, the Labor Department reported Friday. The unemployment rate fell to 10.2% from its previous 11.1%, also better than the estimates from economists surveyed by Dow Jones.<\/p>\n<p>An alternative measure that includes discouraged workers and the underemployed holding part-time jobs for economic reasons fell from 18% to 16.5%.<\/p>\n<h2 style=\"color: #003380; font-size: 20px;\">Key Levels To Watch Next Week:<\/h2>\n<ul>\n<li><strong>S&P 500 <a href=\"https:\/\/club.ino.com\/trend\/?v=stock&s=SP500&mktcode=TradersBlogTA\" target=\"_blank\" rel=\"noopener noreferrer\">(CME:SP500)<\/a><\/strong>: 3,200.05<\/li>\n<li><strong>Dow <a href=\"https:\/\/club.ino.com\/trend\/?v=stock&s=DJI&mktcode=TradersBlogTA\" target=\"_blank\" rel=\"noopener noreferrer\">(INDEX:DJI)<\/a><\/strong>: 25,992.28<\/li>\n<li><strong>NASDAQ <a href=\"https:\/\/club.ino.com\/trend\/?v=stock&s=COMP&mktcode=TradersBlogTA\" target=\"_blank\" rel=\"noopener noreferrer\">(NASDAQ:COMP)<\/a><\/strong>: 10,217.30<\/li>\n<li><strong>U.S. Dollar <a href=\"https:\/\/club.ino.com\/trend\/?v=stock&s=DX&mktcode=TradersBlogTA\" target=\"_blank\" rel=\"noopener noreferrer\">(ICE:DX)<\/a><\/strong>: 96.17<\/li>\n<li><strong>Gold <a href=\"https:\/\/club.ino.com\/trend\/?v=stock&s=GC.Z20&mktcode=TradersBlogTA\" target=\"_blank\" rel=\"noopener noreferrer\">(NYMEX:GC.Z20)<\/a><\/strong>: 2,089.20<\/li>\n<li><strong>Crude Oil <a href=\"https:\/\/club.ino.com\/trend\/?v=stock&s=CL.U20&mktcode=TradersBlogTA\" target=\"_blank\" rel=\"noopener noreferrer\">(NYMEX:CL.U20)<\/a><\/strong>: 42.39<\/li>\n<li><strong>Bitcoin <a href=\"https:\/\/club.ino.com\/trend\/?v=stock&s=BITSTAMPUSD&mktcode=TradersBlogTA\" target=\"_blank\" rel=\"noopener noreferrer\">(BITCOIN:BITSTAMPUSD)<\/a><\/strong>: 9,106.30<\/li>\n<\/ul>\n<p>Every Success,<br \/>\nJeremy Lutz<br \/>\n<a href=\"http:\/\/www.ino.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">INO.com <\/a>and <a href=\"http:\/\/club.ino.com\/members\/?mktcode=blogjl\" target=\"_blank\" rel=\"noopener noreferrer\">MarketClub.com <\/a>\t<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Gold futures in the December contract hit a new all-time intraday high of $2,089.20 per ounce Friday morning as investors poured into the safe-haven asset ahead of the closely watched jobs report. Gold is up about +1.8% this week, on pace for its ninth straight weekly gain for the first time since May of 2006. [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":41,"featured_media":52608,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[14379,6249,6320,6319],"class_list":["post-52606","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trading-videos","tag-bitcoin-bitstampusd","tag-dow-indexdji","tag-nasdaq-nasdaqcomp","tag-sp-500-cmesp500"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v23.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Gold Hits Record High - INO.com Trader&#039;s Blog<\/title>\n<meta name=\"description\" content=\"Gold futures in the December contract hit a new all-time intraday high of $2,089.20 per ounce Friday morning before falling in afternoon trading.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ino.com\/blog\/2020\/08\/gold-hits-record-high\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gold Hits Record High - INO.com Trader&#039;s Blog\" \/>\n<meta property=\"og:description\" content=\"Gold futures in the December contract hit a new all-time intraday high of $2,089.20 per ounce Friday morning before falling in afternoon trading.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ino.com\/blog\/2020\/08\/gold-hits-record-high\/\" \/>\n<meta property=\"og:site_name\" content=\"INO.com Trader&#039;s Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/inocom\/\" \/>\n<meta property=\"article:published_time\" content=\"2020-08-07T18:22:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.ino.com\/blog\/wp-content\/uploads\/2020\/08\/MarketClub-Market-Update-8-7-2020.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"The INO.com Team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"The INO.com Team\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.ino.com\/blog\/2020\/08\/gold-hits-record-high\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.ino.com\/blog\/2020\/08\/gold-hits-record-high\/\"},\"author\":{\"name\":\"The INO.com Team\",\"@id\":\"https:\/\/www.ino.com\/blog\/#\/schema\/person\/d86a8cce826b7bd105200d88bb28a280\"},\"headline\":\"Gold Hits Record High\",\"datePublished\":\"2020-08-07T18:22:37+00:00\",\"dateModified\":\"2020-08-07T18:22:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.ino.com\/blog\/2020\/08\/gold-hits-record-high\/\"},\"wordCount\":372,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.ino.com\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.ino.com\/blog\/2020\/08\/gold-hits-record-high\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wwwtest.ino.com\/blog\/wp-content\/uploads\/2020\/08\/MarketClub-Market-Update-8-7-2020.jpg\",\"keywords\":[\"Bitcoin (BITSTAMPUSD)\",\"DOW (INDEX:DJI)\",\"NASDAQ (NASDAQ:COMP)\",\"S&amp;P 500 (CME:SP500)\"],\"articleSection\":[\"Trading Videos\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.ino.com\/blog\/2020\/08\/gold-hits-record-high\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.ino.com\/blog\/2020\/08\/gold-hits-record-high\/\",\"url\":\"https:\/\/www.ino.com\/blog\/2020\/08\/gold-hits-record-high\/\",\"name\":\"Gold Hits Record High - INO.com Trader&#039;s Blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.ino.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.ino.com\/blog\/2020\/08\/gold-hits-record-high\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.ino.com\/blog\/2020\/08\/gold-hits-record-high\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wwwtest.ino.com\/blog\/wp-content\/uploads\/2020\/08\/MarketClub-Market-Update-8-7-2020.jpg\",\"datePublished\":\"2020-08-07T18:22:37+00:00\",\"dateModified\":\"2020-08-07T18:22:37+00:00\",\"description\":\"Gold futures in the December contract hit a new all-time intraday high of $2,089.20 per ounce Friday morning before falling in afternoon trading.\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.ino.com\/blog\/2020\/08\/gold-hits-record-high\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.ino.com\/blog\/2020\/08\/gold-hits-record-high\/#primaryimage\",\"url\":\"https:\/\/wwwtest.ino.com\/blog\/wp-content\/uploads\/2020\/08\/MarketClub-Market-Update-8-7-2020.jpg\",\"contentUrl\":\"https:\/\/wwwtest.ino.com\/blog\/wp-content\/uploads\/2020\/08\/MarketClub-Market-Update-8-7-2020.jpg\",\"width\":1200,\"height\":628,\"caption\":\"Gold\"},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.ino.com\/blog\/#website\",\"url\":\"https:\/\/www.ino.com\/blog\/\",\"name\":\"INO.com Trader&#039;s Blog\",\"description\":\"Expert Charts, Trading Tips and Technical Analysis from INO.com\",\"publisher\":{\"@id\":\"https:\/\/www.ino.com\/blog\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.ino.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.ino.com\/blog\/#organization\",\"name\":\"INO.com Trader&#039;s Blog\",\"url\":\"https:\/\/www.ino.com\/blog\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.ino.com\/blog\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.ino.com\/blog\/wp-content\/uploads\/2018\/12\/inologo-400.jpg\",\"contentUrl\":\"https:\/\/www.ino.com\/blog\/wp-content\/uploads\/2018\/12\/inologo-400.jpg\",\"width\":400,\"height\":472,\"caption\":\"INO.com Trader&#039;s Blog\"},\"image\":{\"@id\":\"https:\/\/www.ino.com\/blog\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/inocom\/\",\"https:\/\/www.linkedin.com\/company-beta\/1056449\/\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.ino.com\/blog\/#\/schema\/person\/d86a8cce826b7bd105200d88bb28a280\",\"name\":\"The INO.com Team\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.ino.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/cb06ce065c1db526fc31f4d08d898a30?s=96&d=identicon&r=pg\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/cb06ce065c1db526fc31f4d08d898a30?s=96&d=identicon&r=pg\",\"caption\":\"The INO.com Team\"},\"url\":\"https:\/\/wwwtest.ino.com\/blog\/author\/the-ino-com-team\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Gold Hits Record High - INO.com Trader&#039;s Blog","description":"Gold futures in the December contract hit a new all-time intraday high of $2,089.20 per ounce Friday morning before falling in afternoon trading.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ino.com\/blog\/2020\/08\/gold-hits-record-high\/","og_locale":"en_US","og_type":"article","og_title":"Gold Hits Record High - INO.com Trader&#039;s Blog","og_description":"Gold futures in the December contract hit a new all-time intraday high of $2,089.20 per ounce Friday morning before falling in afternoon trading.","og_url":"https:\/\/www.ino.com\/blog\/2020\/08\/gold-hits-record-high\/","og_site_name":"INO.com Trader&#039;s Blog","article_publisher":"https:\/\/www.facebook.com\/inocom\/","article_published_time":"2020-08-07T18:22:37+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/www.ino.com\/blog\/wp-content\/uploads\/2020\/08\/MarketClub-Market-Update-8-7-2020.jpg","type":"image\/jpeg"}],"author":"The INO.com Team","twitter_card":"summary_large_image","twitter_misc":{"Written by":"The INO.com Team","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.ino.com\/blog\/2020\/08\/gold-hits-record-high\/#article","isPartOf":{"@id":"https:\/\/www.ino.com\/blog\/2020\/08\/gold-hits-record-high\/"},"author":{"name":"The INO.com Team","@id":"https:\/\/www.ino.com\/blog\/#\/schema\/person\/d86a8cce826b7bd105200d88bb28a280"},"headline":"Gold Hits Record High","datePublished":"2020-08-07T18:22:37+00:00","dateModified":"2020-08-07T18:22:37+00:00","mainEntityOfPage":{"@id":"https:\/\/www.ino.com\/blog\/2020\/08\/gold-hits-record-high\/"},"wordCount":372,"commentCount":0,"publisher":{"@id":"https:\/\/www.ino.com\/blog\/#organization"},"image":{"@id":"https:\/\/www.ino.com\/blog\/2020\/08\/gold-hits-record-high\/#primaryimage"},"thumbnailUrl":"https:\/\/wwwtest.ino.com\/blog\/wp-content\/uploads\/2020\/08\/MarketClub-Market-Update-8-7-2020.jpg","keywords":["Bitcoin (BITSTAMPUSD)","DOW (INDEX:DJI)","NASDAQ (NASDAQ:COMP)","S&amp;P 500 (CME:SP500)"],"articleSection":["Trading Videos"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.ino.com\/blog\/2020\/08\/gold-hits-record-high\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.ino.com\/blog\/2020\/08\/gold-hits-record-high\/","url":"https:\/\/www.ino.com\/blog\/2020\/08\/gold-hits-record-high\/","name":"Gold Hits Record High - INO.com Trader&#039;s Blog","isPartOf":{"@id":"https:\/\/www.ino.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.ino.com\/blog\/2020\/08\/gold-hits-record-high\/#primaryimage"},"image":{"@id":"https:\/\/www.ino.com\/blog\/2020\/08\/gold-hits-record-high\/#primaryimage"},"thumbnailUrl":"https:\/\/wwwtest.ino.com\/blog\/wp-content\/uploads\/2020\/08\/MarketClub-Market-Update-8-7-2020.jpg","datePublished":"2020-08-07T18:22:37+00:00","dateModified":"2020-08-07T18:22:37+00:00","description":"Gold futures in the December contract hit a new all-time intraday high of $2,089.20 per ounce Friday morning before falling in afternoon trading.","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.ino.com\/blog\/2020\/08\/gold-hits-record-high\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.ino.com\/blog\/2020\/08\/gold-hits-record-high\/#primaryimage","url":"https:\/\/wwwtest.ino.com\/blog\/wp-content\/uploads\/2020\/08\/MarketClub-Market-Update-8-7-2020.jpg","contentUrl":"https:\/\/wwwtest.ino.com\/blog\/wp-content\/uploads\/2020\/08\/MarketClub-Market-Update-8-7-2020.jpg","width":1200,"height":628,"caption":"Gold"},{"@type":"WebSite","@id":"https:\/\/www.ino.com\/blog\/#website","url":"https:\/\/www.ino.com\/blog\/","name":"INO.com Trader&#039;s Blog","description":"Expert Charts, Trading Tips and Technical Analysis from INO.com","publisher":{"@id":"https:\/\/www.ino.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.ino.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.ino.com\/blog\/#organization","name":"INO.com Trader&#039;s Blog","url":"https:\/\/www.ino.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.ino.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.ino.com\/blog\/wp-content\/uploads\/2018\/12\/inologo-400.jpg","contentUrl":"https:\/\/www.ino.com\/blog\/wp-content\/uploads\/2018\/12\/inologo-400.jpg","width":400,"height":472,"caption":"INO.com Trader&#039;s Blog"},"image":{"@id":"https:\/\/www.ino.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/inocom\/","https:\/\/www.linkedin.com\/company-beta\/1056449\/"]},{"@type":"Person","@id":"https:\/\/www.ino.com\/blog\/#\/schema\/person\/d86a8cce826b7bd105200d88bb28a280","name":"The INO.com Team","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.ino.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/cb06ce065c1db526fc31f4d08d898a30?s=96&d=identicon&r=pg","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/cb06ce065c1db526fc31f4d08d898a30?s=96&d=identicon&r=pg","caption":"The INO.com Team"},"url":"https:\/\/wwwtest.ino.com\/blog\/author\/the-ino-com-team\/"}]}},"_links":{"self":[{"href":"https:\/\/wwwtest.ino.com\/blog\/wp-json\/wp\/v2\/posts\/52606"}],"collection":[{"href":"https:\/\/wwwtest.ino.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wwwtest.ino.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wwwtest.ino.com\/blog\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/wwwtest.ino.com\/blog\/wp-json\/wp\/v2\/comments?post=52606"}],"version-history":[{"count":0,"href":"https:\/\/wwwtest.ino.com\/blog\/wp-json\/wp\/v2\/posts\/52606\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wwwtest.ino.com\/blog\/wp-json\/wp\/v2\/media\/52608"}],"wp:attachment":[{"href":"https:\/\/wwwtest.ino.com\/blog\/wp-json\/wp\/v2\/media?parent=52606"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wwwtest.ino.com\/blog\/wp-json\/wp\/v2\/categories?post=52606"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wwwtest.ino.com\/blog\/wp-json\/wp\/v2\/tags?post=52606"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}