Barry Stuppler

Last Friday, Gold closed at $1,266 per ounce, down $23 per ounce from the 2017 high of $1,289 reached on April 21. The slide in the Gold price started on Monday, after Marine Le Pen, leader of the National Front, came in second in the French runoff . . . .

Gold broke out of its recent $1,260/$1,270 per ounce trading range . . . .

Its Friday and Gold continues to trade within a very narrow $5 per ounce range . . . .

Gold is trying to consolidate in a narrow $7 high/low trading range, from $1,268 to $1,261 per ounce . . . .

A stronger U.S. dollar and higher treasury yields are keeping the pressure on the price of Gold this morning . . . .

The price of silver will likely climb in 2017 and over the next several years . . . .

The Gold price is trying to consolidate above $1,265 per ounce . . . .

Macron’s victory in the French Presidential election first round was crucial in supporting risk appetite and undermining gold prices, although markets were still wary of the North Korean situation . . . .

Hedge funds increased their wagers on a gold rally to the highest since November, betting that this year’s 11 percent advance has more to go . . . .

Gold has now increased six weeks in a row, closing at $1,289.10 per ounce last Friday; an $88 increase over the past six weeks, and up $139 (12%) since the beginning of 2017, a new record high for the year . . . .