Barry Stuppler

The Gold market is showing excellent price support above $1,226 per ounce, after last week’s decline . . . .

Gold is treading water in the $1,226 to $1,236 price range, awaiting direction from the results of Sunday’s French election . . . .

On 11 April gold prices broke above the 200-day moving average. They rose to a high of USD 1,295 per ounce on 17 April. Since then, prices have fallen by close to 5% . . . .

Gold broke below the key $1,250 support level late yesterday . . . .

Gold imports by India, the world’s biggest market after China, jumped to the highest level since 2014 . . . .

Critically, this physical gold stored at both the Bank of England vaults and the commercial London vaults underpins the gargantuan trading volumes of the London Gold Market and the same market’s ‘liquidity’ . . . .

Today’s Federal Open Market Committee meeting is negatively effecting the price of Gold . . . .

Gold traded in a narrow $6 high/low range today, from $1,252 to $1,258 per ounce . . . .

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 . . . .