Barry Stuppler

The Silver Institute has published their April 2018 News Report . . . .

The U.S. Dollar continues to rally (Index over 92.50), April unemployment dropped to 3.9%, and - WHAT - Gold is higher . . . .

Gold continues to test its $1,300 per ounce support level and HOLD . . . .

I’ve got a series of charts for you that point to a silver trend that is so entrenched in its development, so inevitable in its outcome, so inescapable in its consequences that it comes as close as one can get to a guarantee. And once fully underway, it will have major implications for the silver price, along with the availability of investment metal . . . .

Some big investors see warning signs ahead for markets but are holding their positions. Egyptian billionaire Naguib Sawiris is taking action: He’s put half of his $5.7 billion net worth into gold . . . .

Speaking on Tuesday this week, Jeffrey Gundlach, founder of the big DoubleLine Fund in the U.S. and with control of assets under management estimated at nearly $120 billion, commented that the gold price had broken its downtrend line and was on the verge of breaking out to the upside.  “Something big is happening” Reuters quotes him as saying . . . .

The U.S. gold exports to Hong Kong surged in February consuming nearly all of the domestic gold mine supply . . . .

A combination of higher interest rates (10-Year Treasury at over 3%, the highest in the past four years), and a stronger U.S. Dollar (Index is 91.43) kept Gold on the defensive last week . . . .

This morning, with the U.S. Dollar and interest rates moving higher, Gold has been on the defensive . . . .

Gold dropped to $1,315 in early Asian trading before finding bargain buying and short-covering . . . .