Barry Stuppler

The equity and commodity market traders are awaiting any news from the Fed Chairman at today’s new conference . . . .

Gold continues its move towards $1,350 per ounce today, reaching a high of $1,311 in European trading. Physical demand . . . .

Last week Gold traded between $1,290 and $1,310 per ounce all five trading days. After the $60 correction that occurred the week before, this was a base building . . . .

The Gold buyers are back. Fresh buying from Asia, Middle-East and Europe drove the Gold price to $1,306 . . . .

After reaching a low of $1,293 this morning the Empire State manufacturing survey was released, showing much weaker . . . .

Gold rallied to $1,312.50, then was hit with short-term profit taking and a strong U.S. Dollar and higher interest rates. These combined . . . .

Lower interest rates with a weaker U.S. Dollar, the prefect formula for higher precious metal prices. Gold firmly broke above . . . .

This morning gold move $5 lower on higher interest rates which kept the U.S. Dollar Index strong . . . .

Between February 21st and March 4th, just eight trading days, Gold dropped $60 (from $1,344 to $1,285 per ounce) based on . . . .

Yes, major buyers stepped up this morning in the Asian and the Middle Eastern markets (Central Banks?) and Gold . . . .