Barry Stuppler
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Weekly Market Report 8/29/11
GOLD During this past week Gold and Silver showed us all just how volatile it can be. Monday, Gold closed at $1,891.90 per ounce up $132 from the previous week’s close, setting the stage for hitting the new all-time high of $1,912.80 early Tuesday morning. Wednesday, gold closed down $104 per ounce and Thursday gold dropped to $1,701 on heavy...(Read More) -
Daily Market Update 8/29/11
GOLD This morning Gold saw some profit taking in Asia and Europe from Friday’s run up. The Gold market dropped down to $1,778 before significant buying appeared. It looks like gold is trying to establish a $1,750 to $1,850 trading range, which would be very healthy as we approach a very bullish time of the year. Because we have just...(Read More) -
Daily Market Update 8/26/11
GOLD Post Jackson Hole speech, we should see Gold continue to build its new trading range. Last night the most active trading month (the December gold contract) hit the $1,800 resistance level before trading back down to $1,770 per ounce. This week we have seen a new $1,700 to $1,800 trading range for gold. After the extraordinary volatility of the...(Read More) -
Daily Market Update 8/25/11
GOLD Gold hit $1,701.70 in overnight trading and quickly bounced back to $1,730. It looks like the $1,700 area has major support for Gold. Building a base in the $1,700 to $1,775 area for the next two to three weeks would be very supportive of the long term market health, while representing good value considering the recent high of $1,912.60...(Read More) -
Central Banks Seen Retaining Gold as Debt Crisis Escalates
(Read More)Central banks, net buyers of gold for the first time in a generation, are likely to retain their holdings even if they need to raise cash to counter an escalating debt crisis, according to Morgan Stanley.
“Once they’ve sold, that’s it, and buying back would be extremely expensive,” said Peter Richardson, chief metals economist at Morgan Stanley Australia Ltd., who’s studied metals markets for 20 years....
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Daily Market Update 8/24/11
GOLD Wow, another exciting day for gold investors. From July 22nd when gold closed at $1,602 until August 22nd when gold hit $1,912, gold increased $310 or 19.35%. At 11am PDT today gold is trading $1,765, down $147 per ounce from August 22nd highs, or 6.6%. Remember at today’s price, gold is still up $343, or 24% for the year...(Read More) -
Daily Market Update 8/23/11
GOLD After increasing six days in a row, and up over $300 in the past month, Gold finally saw some profit taking last night. After breaking above the psychological resistance level of $1,900, gold reached $1,912.60 in Asian overnight trading. At that point, light profit taking hit the market driving gold down to $1,848 before substantial buying appeared. At 11am...(Read More) -
Ron Paul Goes All In On Gold and Silver
(Read More)Rep. Ron Paul, a longtime critic of the Fed and advocate of the gold standard, is all in on gold and silver. Ron Paul has consistently warned of the dangers of a Fed gone wild on easy money and a Government that has borrowed itself into financial oblivion...
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Daily Market Update 8/22/11
GOLD Trading at $1,887.80 at 11am PDT, Gold is up $40 on the day in very active trading. Gold climbed to a record high above $1,895 an ounce in New York and London, as concern about slowing economic growth and debt crises spurred demand for bullion as a protection of wealth. SILVER Silver reached $44.09 in early trading then...(Read More) -
Weekly Market Report 8/22/11
GOLD Gold continues its upward breakout, up $109.50 last week and up $250 for the last month. Friday’s call closed at $1,852.50 per ounce, reaching a new all-time high of $1,881.40 in Friday’s Asian trading, and almost $1,900 during U.S. trading this morning. This increasing volatility in the gold market is beginning to concern me. I believe that the World’s...(Read More)
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