Barry Stuppler
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Daily Market Report 11/20/14
GOLD Gold moved above the $1,200 per ounce, its major long term resistance level, on Tuesday and Wednesday of this week and was beaten back both times. This morning Gold hit at low of $1,176 (mostly because of short selling) before sizeable fresh buying appeared, driving the price back up to $1,196. It appears there is enough demand in the...(Read More) -
Daily Market Report 11/19/14
GOLD This morning in Asian trading Gold made its second attempt to break above the key $1,200 per ounce resistance level, reaching $1,202.50 per ounce. After hitting today’s high, short sellers appeared when the U.S. Dollar strengthened versus the Yen, driving Gold down to $1,175 per ounce. Gold quickly rallied back to $1,197 on heavy demand and short covering. At...(Read More) -
Daily Market Report 11/18/14
GOLD Today Gold made its first attempt to break above the key $1,200 per ounce long term resistance level, reaching $1,205 at one point. The price declined due to short selling and profit taking, hitting $1,190 per ounce, where it found good support. A weak U.S. Dollar versus the Euro is helping the Gold price. At 11am PST today, Gold...(Read More) -
Weekly Market Report 11/17/14
Links to recent informative articles on precious metals and rare coins: New Currency Wars Cometh - Gold to Be "Last Man Standing" Don’t Discount the Yes Side in Swiss Gold Referendum Russia moves away from Dollar, embraces Chinese currency This Week’s Headlines: Gold Russia moving away from the U.S. Dollar Silver Pre-order 2015 First Strike Silver Eagles Recommended Investment...(Read More) -
Daily Market Report 11/17/14
GOLD Today, after reaching a high of $1,194 in early Asian trading, Gold tested support at $1,180 per ounce and held. For most of today’s U.S. and European trading, Gold has been looking very bullish as it consolidates above $1,180, in a narrow $8 high/low price range. At 11am PST today, Gold is trading at $1,186 per ounce, down $2...(Read More) -
Daily Market Report 11/14/14
GOLD Fridays must be bullish for Gold. Last Friday Gold was up $27 per ounce on high volume and today we are seeing a similar rally. Today’s Gold rally comes in the face of a strong U.S. Dollar, particularly against the Japanese Yen. At one point this morning Gold hit a high of $1,194 per ounce, well above the $1,180...(Read More) -
Russia moves away from Dollar, embraces Chinese currency
(Read More)Russian President Vladimir Putin said Friday his country was deliberately moving away from using the U.S. dollar for international trade.
He told the Russian news agency Tass, in an interview, Russian oil sold to China will be paid for in renminbi, the Chinese currency, part of a trend by Russian companies to denominate imports and exports in renminbi or rubles, and not U.S. dollars . . . .
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Daily Market Report 11/13/14
GOLD Gold reached a low of $1,154 per ounce in early Asian trading. For the most part today Gold has stayed just above and below the $1,160 per ounce level, on average trading volume. This trading looks to be healthy consolidation, but I need to see Gold rally above $1,180 per ounce to be more optimistic. At 11am PST today...(Read More) -
Dont Discount the Yes Side in Swiss Gold Referendum
(Read More)Although support appears to be waning ahead of Switzerland’s gold referendum, one analyst isn’t ready to discount the “yes” side just yet. Axel Merk, president and chief investment officer of Merk Investments, recently published a commentary regarding the gold referendum and in an interview with Kitco News said that investors shouldn’t . . . .
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Daily Market Report 11/12/14
GOLD In late Gold trading yesterday, a large physical order hit the market from China, driving the spot price up to $1,172 per ounce. This morning there was a bull/bear battle on the exchanges driving the price down to $1,157 based on the continued strength of the U.S. Dollar against the Japanese Yen. At 11am PST today, Gold is down...(Read More)
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