Barry Stuppler

While the United States continues to ramp up sanctions against Russia, Moscow keeps building up its gold reserves, which have already quadrupled since 2008 and currently amount to nearly 2 thousand metric tons . . . .

Gold is staying in a narrow trading range above the key $1,200 per ounce level, trading between $1,207 and $1,215 on normal volume . . . .

On April 18th, 2018, Gold was trading at $1,353 per ounce and the U.S. Dollar Index was at 89.48. Then, fears of a trade war among the U.S., China, and Europe hit the market place . . . .

This morning, Gold tested the $1,200 per ounce support level, reaching a low of $1,203 . . . .

Gold prices traded higher on Friday as Federal Reserve chairman Jerome Powell emphasized the central bank’s plans for gradual interest rate hikes would be conditioned on the continued strength of the U.S. economy and labor market . . . .

Recently the value of the U.S. Dollar has pretty much dictated the direction of Gold prices . . . .

After a major sell-off, precious metals are a cheap buy for long-term investors, according to Wells Fargo Investment Institute, which highlighted silver as the best investment choice at the moment . . . .

Gold appears to be forming a trading range between $1,180 and $1,200 per ounce . . . .

How will Iran, Russia, and Turkey react to the plethora of financial sanctions being placed on them by the United States?  Well, they will do what anyone being beaten with a stick would do: they will try to escape . . . .

Does gold go on vacation? I don’t know, but I am going for sure. But before that happens, I encourage you to read another special edition of the Gold News Monitor from Auburn, Alabama . . . .