Barry Stuppler

The outlook for gold - both bullion and the SPDR Gold Trust ETF (GLD) - is as bullish as I have seen it in my lifetime . . . .

Last week was very exciting. The excitement started last Wednesday when the Federal Reserve Chairman, Jerome Powell, raised interest rates by a ¼ of a percent . . . .

Gold reached a high of $1,356 per ounce, above the key $1,350 resistance level . . . .

This week was certainly ripe with major events, each of which has had a direct and immediate impact on gold. However, it was the escalation of trade tariffs proposed by President Trump this week that sent gold prices dramatically higher and equity pricing to its lowest level since November 2017 . . . .

After our President signed an executive order putting $60 billion worth of new tariffs on China, it appears the Asian financial markets are really concerned about a trade war . . . .

Between yesterday’s dovish statements by Federal Reserve Chair Powell and today’s Chinese trade tariffs from the White house, the volatility in the financial markets has increased dramatically . . . .

Speculation around a more dovish strategy coming from today’s Federal Reserve announcement and press conference by J. Powell was supportive for the Gold price . . . .

For years, a trend has developed that, much to the dismay of global financial elites, has taken hold and will only accelerate from this point on . . . .

Today, Gold is trading in a narrow $10 high/low range, between $1,318 and $1,308, awaiting tomorrow’s Fed announcement on interest rates . . . .

The US dollar has been dominant as the global reserve currency for a century. It was backed by gold, and the phrase, “good as gold,” had a literal meaning . . . .