Barry Stuppler

Wow, the Gold price is moving higher at a faster rate than I expected . . . .

China, the world’s biggest gold market, may boost imports through Hong Kong by about half this year as local investors seek to protect their wealth from currency risks, a slowing property market and volatile stocks, according to the Chinese Gold & Silver Exchange Society . . . .

Three major factors helped Gold breakout above the key $1,270 per ounce level last week . . . . 

After moving above $1,270 late last week, Gold has moved above $1,280 per ounce this morning . . . .

Gold quickly moved above the $1,270 per ounce resistance level and kept on going . . . .

Gold prices reached an all-time high dollar price of $1,898 per ounce on September 5, 2011. Then began a relentless four-year, 43% plunge that took gold prices to $1,058 on November 27, 2015 . . . .

Last week, the Silver Institute and the research team from GFMS at Thomson Reuters said that silver mine production declined in 2016 for the first time since 2002 . . . .

Gold continues to consolidate recent gains in a tight trading range . . . .

Gold is up about 10% this year while the U.S. Dollar has declined more than 5.5% over the same period . . . .

Gold started the year at $1,150 per ounce and reached a high of $1,297 on April 17, a $147 increase . . . .