Barry Stuppler

As the yuan retreats, China is taking in more gold. The world’s biggest consumer of the precious metal raised bullion imports from Hong Kong in September for the first time in four months as investors sought to diversify their assets on prospects for further currency weakness . . . .

One major international global asset management firm says conditions are perfect for gold prices, comparing the market to a potential wildfire that is just waiting for the right spark . . . .

Unlike paper currency, coins or other assets, gold has maintained its value throughout the ages . . . .

It appears that after the October $65 selloff, Gold bottomed out at $1,246.90 on Friday Oct 14th. During last week, Gold traded above the important $1,270 resistance level twice  . . . .

Besides alerting us to how the expansion of fiat money is progressing, an objective of this exercise is to give some guidance on the price relationship with gold . . . . .

Gold futures have chalked up their best settlement so far this month and the precious metal seems to be defying analyst predictions that it will remain in a holding pattern until after the election. If gold was a funding bill, it would be getting bipartisan support . . . .