Barry Stuppler
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Daily Market Report 4/10/15
GOLD Gold broke back above the key $1,200 per ounce level this morning on excellent demand when Gold hit $1,193 in Asian trading. Gold has surged 3.5% in Euros and 2.2% in British Pounds this week. At 11am PDT today, Gold is trading at $1,206 per ounce, up $11 per ounce on above average Friday volume. There is a great...(Read More) -
China Gold Reserves Rise To Threatening Level
(Read More)No one knows exactly how much gold China has – but we know it’s a lot. Last disclosed in April 2009, China gold reserves were at 1,054 tonnes. At least, that was the official number You see, China only reports its gold reserves every few years. The most recent number suggests . . . .
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Daily Market Report 4/9/15
GOLD The U.S. Dollar rallied today, moving to $1.04 to the Euro. This Dollar rally negatively affected Gold, driving the price down to $1,192.60 per ounce. I am very disappointed that Gold couldn’t hold the important $1,200 per ounce support level. However, there wasn’t a lot of professional selling or shorting after the price break, and Gold found good support...(Read More) -
Daily Market Report 4/8/15
GOLD Gold tested the very important $1,200 support level this morning, reaching a low of $1,200.70 per ounce. At that point trading volume increased as fresh buyers appeared, rallying the price back to $1,205 per ounce. At 11am PDT today, Gold is trading at $1,205 per ounce, down $5 on better than average trading volume. SILVER This morning Silver tried...(Read More) -
Why Gold Stocks Still Suck
(Read More)It is a bit hard to fathom but nearly three years have lapsed since I penned a rant called “Why Gold Stocks Suck” (Mercenary Musing, April 30, 2012) after a Cambridge House conference in Calgary.
At that time, I had little inkling that the bear market for gold exploration and mining companies would continue into its fifth year and be deeper now than in the spring of 2012 . . . .
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Daily Market Report 4/7/15
GOLD Today Gold traded in a narrow $9 range from $1,207 to $1,216 per ounce. I like this price consolidation after the recent break above the key $1,200 level. Recently, the strength or weakness of the U.S. Dollar is providing direction for the Gold price. At 11am PDT today, Gold is down $8 per ounce, trading at $1,210 per ounce...(Read More) -
Weekly Market Report 4/6/15
Links to recent informative articles on precious metals and rare coins: Kazakhstan extends gold buying spree as Russia keeps assets Gold In Fed Vault Drops Under 6,000 Tons For The First Time, After 10th Consecutive Month Of Redemptions This Week’s Headlines: Gold Fundamentals for higher Gold price continue to strengthen Silver April 2015 CoinStats in now available Recommended Investment...(Read More) -
Daily Market Report 4/6/15
GOLD This morning Gold was able to react to Friday’s disappointing Nonfarm Payroll report, opening up $11, at $1,212 per ounce, and moving to a high of $1,224.80. Currently the $1,220 level has acted has a strong resistance level, therefore it would be very bullish if Gold could move above $1,220 per ounce this week. At 11am PDT today, Gold...(Read More) -
Daily Market Report 4/3/15
GOLD Today’s release by the U.S. Labor Department of a disappointing Nonfarm payroll status is bullish for Gold. Nonfarm payroll only increased by 126,000 jobs in March, much less than was expected and earlier reports were already revised downward. This data is a high priority for the Federal Reserve when determining the direction of interest rates. I believe this will...(Read More) -
Daily Market Report 4/2/15
GOLD Four times this year the Gold bears were able to drive the Gold price below the key $1,200 per ounce support/resistance level. In one instance they were able to drive Gold low enough to make a new 2015 low ($1,141.60 on March 17th). In all four instances, sizeable demand appeared on the world’s commodity exchanges and physical markets to...(Read More)
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