Barry Stuppler

China’s proven gold reserves reached 12,100 tonnes at the end of 2016, the state news agency Xinhua reported on Monday quoting an official with the national gold association . . . .

Last week, precious metal prices were negatively affected by the lobbying of Congress and the President for the first tax reform legislation in the past 31 years . . . .

This morning, as the U.S. Dollar continues its recent rally, Gold is trading from a low of $1,271 per ounce to a high of $1,276, as it appears to be bottoming out

The U.S. Dollar continues to rally based on the hope that $3 trillion, currently held overseas by American corporations, could be repatriated in the coming year . . . .

The recent decline in the Gold price appears to have bottomed out this morning at $1,277 per ounce . . . .

The U.S. Dollar rally and an increase in interest rates have affected the Gold price negatively . . . .

India’s cultural affinity for silver underscores the country’s importance as a leading source of demand in the global silver marketplace.  The breadth of the Indian silver market resonates across much of the country, currently the world’s seventh largest economy . . . .

Gold has been trying all day to stay above the key $1,300 per ounce support/resistance level . . . .

Dennis Gartman has called 2017’s gold rally and he is now forecasting gold will be “demonstrably higher” rising to $1,400/oz in the coming months and rise by even more in euro terms . . . .

The Russian Central Bank announced last week that its gold reserves had reached 56.1 million troy ounces (approximately 1,745 metric tons). The total included an additional 500,000 ounces (approximately 15.5 metric tons) of gold added in August . . . .