Barry Stuppler

Do you believe all of the gold that is supposed to be at the Fort Knox bullion depository is there? Now would be a good time to ask President Donald Trump to open the vaults to the public as was done in 1974 when Gerald Ford was President . . . .

Gold is trading in a narrow $6.50 high/low trading range, between $1,241 and $1,248 per ounce . . . .

India’s gold traders stocked up anticipating a higher Goods and Services Tax (GST), pushing up imports of the precious metal & widening the country’s trade deficit to 30-month high in May . . . .

This keeps Russia in sixth place among global national holders of gold after China in fifth, but closing the gap given China seems to have ceased to report monthly gold reserve increases since last October . . . .

Last night, during Asian trading, Gold took a run at the important $1,250 per ounce resistance level . . . .

Gold was down after the Fed’s hike, but I expect it to start heading higher again. Too many powerful forces are driving it behind the scenes. Dwindling physical supply is a major one . . . .

Since February of 2017, Gold has traded between $1,201 and $1,298 per ounce. During that period of time Gold has made two attempts to break above the key $1,300 per ounce resistance level. The third attempt . . . . 

A firmer U.S. Dollar and a slight increase in interest rates has caused Gold to trade between $1,245 and $1,255 . . . .

After this week’s $17 price correction, the Gold price is stabilized in a tight $6 high/low trading range today . . . .

After yesterday’s Janet Yellen (chairman of the Federal Reserve) hawkish news conference, Gold sold off . . . .