Barry Stuppler

Gold broke below the key $1,250 support level late yesterday . . . .

Gold imports by India, the world’s biggest market after China, jumped to the highest level since 2014 . . . .

Critically, this physical gold stored at both the Bank of England vaults and the commercial London vaults underpins the gargantuan trading volumes of the London Gold Market and the same market’s ‘liquidity’ . . . .

Today’s Federal Open Market Committee meeting is negatively effecting the price of Gold . . . .

Gold traded in a narrow $6 high/low range today, from $1,252 to $1,258 per ounce . . . .

Last Friday, Gold closed at $1,266 per ounce, down $23 per ounce from the 2017 high of $1,289 reached on April 21. The slide in the Gold price started on Monday, after Marine Le Pen, leader of the National Front, came in second in the French runoff . . . .

Gold broke out of its recent $1,260/$1,270 per ounce trading range . . . .

Its Friday and Gold continues to trade within a very narrow $5 per ounce range . . . .

Gold is trying to consolidate in a narrow $7 high/low trading range, from $1,268 to $1,261 per ounce . . . .

A stronger U.S. dollar and higher treasury yields are keeping the pressure on the price of Gold this morning . . . .