Barry Stuppler

It was announced today that average 30-year mortgage interest rates hit a seven year high of 4.66% . . . .

There has been a recent change for the better in central bank attitudes to gold . . . .

Late yesterday the Federal Reserve raised the Fed-Funds rate to 2.25% and signaled it was prepared to increase rates again in December . . . .

As we approach a Federal Reserve meeting which is expected to increase the fed funds rate by ¼ point, Gold and Silver has sold-off . . . .

Now looks like a good time to buy gold. But you need to watch this chart . . . .

Gold continues to be locked into a tight trading range above and below the important $1,200 per ounce resistance/support level . . . .

Just when Gold staying in the $1,190 to $1,210 price range was starting to frustrate me, a bullish article was published in a prestigious business newspaper . . . .

A slight sell-off in the U.S. Dollar with renewed concerns about the state of negotiation on trade talks with China has helped the gold price this morning . . . .

This year has been especially lackluster for Gold. Its price has slumped 8%, to about $1,200 an ounce, and is off more than 35% from its high of $1,900 in 2011. Adding insult to injury, Vanguard will soon rechristen the largest Gold-oriented U.S. mutual fund and shift its focus away from the metal . . . .

Early this morning the U.S. Dollar Index rallied and someone sold 10,000 December Comex 100-ounce contracts (valued at $1.2 billion) in New York . . . .