Barry Stuppler
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Daily Market Report 6/9/15
GOLD Gold rallied this morning on uncertainty over the Greek debt crisis. Greece proclaimed a new willingness to compromise with its international creditors on Monday, as German Chancellor Angela Merkel warned that time was running out for a reform-for-aid deal to keep the country in the Euro. A failure to agree on a deal could trigger safe-haven bids for Gold...(Read More) -
How much gold in China? 30,000 Tons?
(Read More)On May 15, the Russian news source Pravda passed along an unconfirmed story that appeared in Duowei News that the Chinese government had accumulated 30,000 tons (965 million ounces) of gold reserves.
The question of how much gold China owns now could be answered soon . . . .
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Weekly Market Report 6/8/15
Links to recent informative articles on precious metals and rare coins: China Gold demand holding up well – new record ahead? This Week’s Headlines: Gold Silver Platinum Rare Coin Report Recommended Investment Commitment and Diversification GOLD Last week Gold broke below the important $1,180 per ounce support level, reaching an inter-week low of $1,162.10 per ounce. Last Friday...(Read More) -
Daily Market Report 6/8/15
GOLD This morning Gold found excellent demand in the $1,169 per ounce area. Gold has traded today in a narrow $8 high/low price range, from $1,169 to $1,177 per ounce. I would like to see Gold move back above the key $1,180 per ounce level. At 11am PDT today, Gold is trading at $1,174 per ounce, up $5 on excellent...(Read More) -
Daily Market Report 6/5/15
GOLD The U.S. economy added 280,000 jobs last month, the best month of 2015. This news caused Gold to continue its recent decline, reaching a low of $1,162.70 before finding fresh bargain buyers. If Gold doesn’t find major support in Asia on Monday, it could test the 2015 low of $1,141.60 per ounce. Gold reached that low on March 17th...(Read More) -
Daily Market Report 6/4/15
GOLD Gold broke below the $1,180 support level in early Asian trading and technical traders shorted the Gold market, driving it down to $1,172 per ounce. At that point bargain buyers appeared and rallied the price back up to $1,178. At 11am PDT today, Gold is trading at $1,176, down $10 per ounce on heavier than average volume. The International...(Read More) -
Daily Market Report 6/3/15
GOLD This morning Gold started with a brief rally based on a weaker U.S. Dollar versus the Euro. However, a report that inventory holdings declined from a major Gold ETF (SPDR Gold Trust) quickly drove the price lower, reaching $1,180 per ounce. Holdings in SPDR Gold Trust, the world’s largest Gold ETF, fell 4.18 tonnes (to 709.89 tonnes) on Tuesday...(Read More) -
Daily Market Report 6/2/15
GOLD Gold increased in early trading yesterday, reaching a high of $1,204.50 after an announcement that U.S. consumer spending stalled in April. After the rally, Gold fell back below $1,200 after the Dollar strengthened and reports that U.S. manufacturing activity picked up in May. This morning Gold opened strong in Asia and quickly moved up to $1,196. Selling then appeared...(Read More) -
China gold demand holding up well – new record ahead?
(Read More)We keep seeing reports in the mainstream media suggesting that Chinese gold demand is slipping away, but continuing strong gold withdrawal figures from the Shanghai Gold Exchange (SGE) seem to contradict these reports . . . .
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Weekly Market Report 6/1/15
Links to recent informative articles on precious metals and rare coins: China Inks Deals to Back Yuan with Gold Russia boosting Gold holdings as defense against ’political risks’ Will China go for a Gold standard? The jury is out! This Week’s Headlines: Gold Concerns about Western Sanctions are driving Russia to buy Gold Silver Recommended Investment Commitment and Diversification...(Read More)
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