Barry Stuppler
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Russia moves away from Dollar, embraces Chinese currency
(Read More)Russian President Vladimir Putin said Friday his country was deliberately moving away from using the U.S. dollar for international trade.
He told the Russian news agency Tass, in an interview, Russian oil sold to China will be paid for in renminbi, the Chinese currency, part of a trend by Russian companies to denominate imports and exports in renminbi or rubles, and not U.S. dollars . . . .
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Daily Market Report 11/13/14
GOLD Gold reached a low of $1,154 per ounce in early Asian trading. For the most part today Gold has stayed just above and below the $1,160 per ounce level, on average trading volume. This trading looks to be healthy consolidation, but I need to see Gold rally above $1,180 per ounce to be more optimistic. At 11am PST today...(Read More) -
Dont Discount the Yes Side in Swiss Gold Referendum
(Read More)Although support appears to be waning ahead of Switzerland’s gold referendum, one analyst isn’t ready to discount the “yes” side just yet. Axel Merk, president and chief investment officer of Merk Investments, recently published a commentary regarding the gold referendum and in an interview with Kitco News said that investors shouldn’t . . . .
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Daily Market Report 11/12/14
GOLD In late Gold trading yesterday, a large physical order hit the market from China, driving the spot price up to $1,172 per ounce. This morning there was a bull/bear battle on the exchanges driving the price down to $1,157 based on the continued strength of the U.S. Dollar against the Japanese Yen. At 11am PST today, Gold is down...(Read More) -
Daily Market Report 11/11/14
GOLD After Friday’s $27 rally and yesterday’s $13 decline, today (maybe because it’s a holiday) Gold appears to be having a consolidation day. Earlier this morning Gold hit a $1,146 low, but quickly rallied back to $1,166 before seeing some resistances. I hope we will see Gold consolidate between the $1,150 to $1,180 range in the coming week, bring in...(Read More) -
Weekly Market Report 11/10/14
Links to recent informative articles on precious metals and rare coins: Reader Question on Greenspan and Gold: "No Fiat Currency Can Match It" This Week’s Headlines: Gold Getting Bullish on Gold and Silver Silver Recommended Investment Commitment and Diversification GOLD After seven consecutive down days, Gold reached an unbelievable $1,130 per ounce. At that point, a major buyer...(Read More) -
Daily Market Report 11/10/14
GOLD After last Friday’s $27 rally, Gold showed some short term profit taking today. At one point in morning trading Gold reached $1,177.60, just short the of the $1,180 resistance level. Today’s CME December Gold is trading above $1,160 with about half of Friday’s volume At 11am PST today, Gold is down $13, trading at $1,158 per ounce on average...(Read More) -
Daily Market Report 11/7/14
GOLD I REALLY LIKE THE WAY GOLD TRADED TODAY After reaching a 4 year record low of $1,130 per ounce in early Asian trading, Gold found serious buyers and the price quickly rallied $30. The rally kept on going, reaching a high of $1,171 per ounce on the CME with heavy trading volume, especially for a Friday. If the price...(Read More) -
Daily Market Report 11/6/14
GOLD After Gold hit a low of $1,137 per ounce yesterday, the bargain buyers came in and the trading volume doubled. This morning Gold is trying to consolidate in the $1,145 per ounce area on above average trading volume. At 11am PST today, Gold is trading at $1,144.60 per ounce, down $2.20 per ounce. SILVER Silver is finding lots of...(Read More) -
Daily Market Report 11/5/14
GOLD After last night’s election results it is clear that the Republicans will take control of the House of Representatives, the Senate, and the direction of the U.S. economy. Many traders and economists believe that Republicans will be better for U.S. economic growth and for businesses. The U.S. Dollar moved sharply higher and hit a four-year high overnight. A stronger...(Read More)
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