Barry Stuppler

The U.S. Dollar continues to decline . . . .

If gold trading this morning in Europe is anything to go by, gold is headed for US$1,350 an ounce . . . .

As the U.S. Dollar hits a 3-year low, and Treasury Secretary Mnuchin stated “a weaker dollar is in the best interests of our economy” the stage was set for a higher Gold price . . . .

Gold continues its gradual move higher, reaching a high of $1,339 per ounce today . . . .

Stocks have now opened the year up 6%.  Global interest rates are on the move, with the U.S. 2-year Treasury trading above 2% for the first time since 2008.  Oil is trading in the mid $60s.  And base metals are trading toward the highest levels of the young, two-year bull market in commodities . . . .

A major breakout in Gold this year and its effect on Silver is just one reason why Silver could have a big year . . . .

The U.S. Government shutdown is not having any affect on precious metal markets. Gold is trading in a narrow $8 high/low range . . . .

Gold is working its way higher within its $1,320 to $1,350 trading range. Asian, Middle Eastern and European commodity markets are clearly the leader in the current Gold rally . . . .

Some analysts worry that higher US interest rates are bearish for gold. Because gold has no yield, the higher rates climb, the greater the relative appeal of other assets. But the evidence doesn’t bear this out, says Russ Mould of investment platform AJ Bell in The Daily Telegraph . . . .

After the recent $80 rally, Gold is consolidating in a tight trading range between $1,320 and $1,350 per ounce . . . .