Weekly Marketing Commentary

Adam Turnquist, CMT, Chief Technical Strategist

Bullion broke new ground last week after rallying to a record high. Growing investor confidence for a Federal Reserve (Fed) rate cut by this summer dragged down yields and the dollar, creating a tailwind for gold. The breakout above key resistance at $2,075 was also a major technical development, confirmed by bullish momentum that suggests the rally could continue. Global central bank demand has been another key catalyst and has shown no sign of slowing down, while a rebound in demand from gold-related exchange-traded funds (ETFs) could provide additional support for the yellow metal.

(800)59-ADVISE (408)879-0789 Fax: (408)879-9075

Paul King, CFP®, Registered Principal, LPL Financial, CA Insurance #0761042

Shannon Corpuz, Registered Representative, LPL Financial

In the event of a natural disaster and King Wealth Planning cannot be reached, please contact LPL’s service center directly: 800.558.7567

This communication is strictly intended for individuals residing in the states of AL, AZ, CA, CO, CT, FL, GA, ID, MA, MD, MI, MN, NM, NC, NY, NV, OK, OR, PA, RI, SC, TX, UT, VA, and WA. No offers may be made or accepted from any resident outside these states.

A IMPORTANT CONSUMER INFORMATION A broker/dealer(BD), investment adviser (IA), representative may only transact business in a state if first registered, or is excluded or exempt from state broker/dealer, investment adviser, BD agent, or IA registration requirements, as appropriate. Follow-up, individualized responses to persons in a state by such a firm or individual that involve either effecting or attempting to effect transactions in securities, or the rendering of personalized investment advice for compensation, will not be made without first complying with appropriate registration requirements, or an applicable exemption or exclusion.

For information concerning the licensing status or disciplinary history of a BD, IA, BD agent, or IA rep, a consumer should contact his or her state securities law administrator. 

Securities offered through LPL Financial, Member FINRA/SIPC www.finra.org | www.sipc.com.  Financial Planning offered through King Wealth Planning, Inc., a Registered Investment Advisor and a separate entity.