Barry Stuppler

Gold continues to trade in a tight $8 high/low trading range . . . .

Next week is the two-day FOMC meeting followed by a press conference. Presumably there will be a 25-basis point rate “hike” on Wednesday, June 13th at 2:00 p.m. EST . . . .

Gold briefly broke back above the key $1,300 per ounce level this morning on fresh buying . . . .

Gold doesn’t want to go down. They took it below $1,290 this morning, but major buying appeared and the price quickly jumped $5 per ounce . . . .

What does it Indicate?

Global trade war very positive for gold . . . .

Most of last week, Gold traded above and below the important $1,300 per ounce support/resistance level. Gold ended last week at $1,295 per ounce, down $8 on normal volume . . . .

Gold is trading in a narrow $8 high/low trading range from $1,290 to $1,298 per ounce today . . . .

A U.S. Jobs report was released this morning, show the unemployment rate has dropped to only 3.8% (the lowest level in 49 years) . . . .

The country’s gold and jewelry market has endured a sales slump following the introduction of value added tax . . . .