Barry Stuppler
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Daily Market Report 11/12/13
GOLD It’s not a good day in the precious metal markets. Gold opened unchanged from Monday’s close but could not stay above the $1,280 per ounce support level, reaching a low of $1,271.30. The volume is a little above average but there was not significant demand from Asia in overnight trading. At 11am PDT today, Gold is trading at $1,273...(Read More) -
Daily Market Report 11/11/13
GOLD Because of the Veteran’s Day holiday, trading is very thin in the U.S. Gold has traded in a very narrow $9 per ounce price range, from $1,279.60 on the low to $1,288.60 on the high. At one point, Gold tested the $1,280 support level and quickly rallied back above on light volume. At 11am PDT Today, Gold is trading...(Read More) -
Weekly Market Report 11/11/13
This Week’s Headlines: Gold The Chinese need to put their Gold somewhere Silver October 2013 Silver Institute Newsletter Baltimore Rare Coin Convention Market Report Recommended Investment Commitment and Diversification GOLD The U.S. Commerce Department made a surprise announcement last Friday saying that 204,000 new jobs were created in October. The amount was substantially higher than the expected 120,000 jobs that...(Read More) -
Daily Market Report 11/8/13
GOLD Gold was trading at $1,310 per ounce this morning when the Commerce Department announced that non-farm employment had an increase of 204,000 jobs for the month of October, a sizeable increase over the 120,000 job increase that was expected. Gold quickly dropped to $1,281 per ounce on heavy volume because a jobs increase of that size would allow the...(Read More) -
China Converting U.S. Dollar Debt Holdings Into Gold At Accelerating Rate
(Read More)China, Russia and other nations are exiting their dollar-denominated holdings in favor of gold. This action should put pressure on the dollar and U.S. treasuries, pushing not only central banks, but mainstream investors towards the safety of precious metals and other tangible assets that cannot be defaulted on. There will be a rush out of dollars and into assets with no counter-party risk, it is just a matter of how soon it happens . . . .
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Daily Market Report 11/7/13
GOLD The bears took control of the Gold market early this morning after the ECB announced a ¼ point rate cut which caused the U.S. Dollar to rally. The U.S. Dollar increase versus the Euro helped drive the price down to $1,296 per ounce. At that point the bulls came in with massive purchases taking the price back to $1,310...(Read More) -
Daily Market Report 11/6/13
GOLD Comments from Fed policymaker John Williams, who said the central bank should wait for stronger evidence of growth momentum before trimming bond-buying, helped balance out a surprisingly strong U.S. service sector report, and caused Gold to rally $9 this morning. At 11am PDT today, Gold is trading at $1,316 per ounce, up $7 per ounce on normal volume. Bank...(Read More) -
How Much Gold Does China Buy?
(Read More)Yesterday, Du Haiqing, the vice general manager of China Gold Group (China’s largest gold producer) told a gold industry conference in China that China’s current gold consumption level cannot be sustained . . . .
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Daily Market Report 11/5/13
GOLD Gold continues to decline in a narrow trading range on light volume. I believe we will see a test of the $1,300 per ounce support level within the next 48 hours. I think Gold holding above that support level is very critical to short term trading. At 11am PDT today, Gold is trading at $1,309 per ounce, down $7...(Read More) -
Daily Market Report 11/4/13
GOLD Today, Gold is holding in the $1,315 to $1,320 area on moderate trading awaiting news from the European Central Bank on the possibility of loosening monetary policies. At 11am PDT today, Gold is trading at $1,316, up $2 per ounce on moderate volume. SILVER Indian demand for Gold was lower than estimated during the biggest Gold-buying festivals of Dhanteras...(Read More)





