Barry Stuppler

GOLD Gold has stayed above $1,600 per ounce for the entire day on excellent demand. At 11am PDT, Gold is trading at $1,612.40 per ounce up $5.20 per ounce on excellent volume.   The Chinese Keep Buying More and More Gold China imported 382.79 tons of Gold from Hong Kong in the first half of the year, up 64.95 tons...

GOLD After claiming last week in London that he would do “whatever it takes” to preserve the Euro, ECB President Mario Draghi disappointed investors. In yesterday’s meeting he failed to outline specific ways of remedying the situation.  He broadly stated that governments should be ready to shore up liquidity, but didn’t mention how this would be accomplished. Should Gold stay...

GOLD At 11:15pm PDT on Wednesday August 1, 2012 the Federal Reserve FOMC announced they weren’t going to provide any new monetary stimulus at this time. The U.S. Dollar moved higher versus the Euro, and Gold dropped fast from $1,607 to $1,591 per ounce. Gold then quickly rallied back to above the $1,600 level on excellent volume.  Today, Gold dropped...

GOLD This morning, ADP Employer Services said that the US economy added 163,000 jobs in July, easily beating the forecast for a gain of 121,000 jobs. This strong economic report caused Gold traders to be less optimistic about today’s U.S. Federal Reserve Open Market Committee’s report on additional monetary stimulus. If the Fed decided to launch another round of quantitative...

GOLD Today, Gold has actively traded from $1,610 to $1,629 per ounce on normal volume. Gold once again attempted to breakout above the $1,625-$1,630 resistance level. Since June 1st, this price level has been reached thirteen times without decisively breaking through. The Gold price has a QE premium built into it, as we wait for news on this subject by...

This week’s Market Report provides you with an update on the precious metal markets, especially last week’s Gold breakout above $1,600 per ounce.  I am also requesting that my clients and friends contact their Congressman and ask them to support HR 5977 (Collectible Coin Protection Act of 2012.) This proposed legislation would stop the flood of high quality Chinese counterfeit...

GOLD Gold held steady around $1,620 per ounce today, as investors wait for the central banks on both sides of the Atlantic to give clearer cues on the potential for further monetary stimulus. Last Friday’s data showed U.S. economic growth slowed in the second quarter as consumers spent at their slowest pace in a year, increasing pressure on the Federal...

GOLD Today’s trading has been in a narrow $16 price range, from $1,614 to $1,630 per ounce. There was considerable short term professional selling when the price hit $1,630 earlier this morning. Based on resistance level, Gold should see selling between $1,625 and $1,630 per ounce, as that price is the high end of the recent trading range. But, like...

GOLD Gold rallied today on comments from Mario Draghi (President of European Central Bank) at an investor conference raised hopes that Europe’s central bank might intervene in markets to bring down the cripplingly high borrowing costs for financially strapped European countries like Spain and Italy. At 11am PDT, Gold is up $6, trading at $1,615 per ounce with above average...