Barry Stuppler

Gold tested its $1,270 per ounce support level this morning and quickly rallied $8 per ounce . . . .

As we reported both here and here, gold is the answer going forward. How we the people will access physical gold or if we will be able to access physical gold is really the only remaining question . . . .

Gold aficionados may remember Graham Birch who managed the Blackrock Gold and General Fund in its glory days before he gave it up to go farming – someone who got his timing spot on.  But although he may now be a farmer, Graham has kept closely attuned to the gold sector and his views are well worth listening to – particularly with respect to gold bullion . . . .

Gold tested the low end of its recent $1,270 to $1,300 per ounce trading range this morning . . . .

After an unsuccessful attempt to break above the key $1,300 level yesterday and last night the Gold market was hit with selling . . . .

Last week Russia’s Central Bank First Deputy Governor Sergei Shvetsov said Russians own gold bullion and their central bank is adding to its gold reserves in order to “beef up national security" . . . .

Gold has traded in a narrow $7 High/Low range all day, between $1,297.50 and $1,290.50 per ounce . . . .

With a weaker U.S. Dollar and lower interest rates, Gold opened higher, reaching a high of $1,299 per ounce . . . .

The long term solution lies in increasing the economic growth so that the Current Account Deficit changes to Current Account Surplus. This is a tough call, under prevailing environment . . . .

While the international gold market is facing a slowdown, with the global demand for the precious metal waning, gold is becoming remarkably popular in Germany . . . .