Barry Stuppler

The U.S. President cancels the North Korean summit, the stock market drops, and Gold and Silver rally . . . .

The U.S. Dollar Index briefly broke above the 94 level (highest value since 2011) and Gold sold off from the day’s high of $1,298 per ounce . . .

After reaching a low of $1,282 per ounce yesterday, today Gold has traded in the narrow $8 high/low range . . . .

Gold to Outperform Against Other Currencies . . . .

On May 4 and 5, 2018, Warren E. Buffett (born 1930) and Charles T. Munger (born 1924), both already legends during their lifetime, held the annual shareholders’ meeting of Berkshire Hathaway Inc. . . . .

Last Tuesday, Gold dropped $28 per ounce to below $1,290, breaking the important $1,300 resistance level . . . .

The U.S. Dollar Index was approaching the 94 level this morning, driving Gold down to a low of $1,282 per ounce . . . .

After Venezuela, Germany, Austria and the Netherlands prudently repatriated a substantial portion (if not all) of their physical gold held at the NY Fed or other western central banks in recent years, one month ago Turkey announced that it too has decided to repatriate its gold stored in the US Federal Reserve and deliver it to the Istanbul Stock Exchange . . . .

As the U.S. Dollar continues to move higher and the 10-Year Treasury moves to 3.10%, Gold remains under $1,300 per ounce . . . .

Today Gold traded between $1,285 and $1,295 per ounce with average trading volume . . . .