Barry Stuppler
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Is Russia Moving to a Gold-Backed Currency?
(Read More)While the IMF still reports the United States as the largest holder of gold reserves by far, these are essentially self-reported numbers. They are not reliable because countries could have incentives to under report or over report their gold reserves . . . .
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Weekly Market Report 5/4/15
Links to recent informative articles on precious metals and rare coins: China Gold Reserves to Be Revealed After 6 Years of Secrecy Putin’s Insatiable Appetite for Gold Fueled by These 3 Things Russia resumes Gold stockpiling as rouble crisis eases This Week’s Headlines: Gold Silver Recommended Investment Commitment and Diversification GOLD Last Friday Gold closed at $1,174.50, down...(Read More) -
Daily Market Report 5/4/15
GOLD Weak Chinese economic data, which should be followed by increasing monetary stimulus, has helped Gold move higher this morning in Asia. Gold rallied back into the $1,180 to $1,220 trading area, reaching a high of $1,193 in early European trading. At 11am PDT today, Gold is trading at $1,188 per ounce, up $13 on good volume. SILVER Silver rallied...(Read More) -
Daily Market Report 5/1/15
GOLD The Gold bears were able to drive the price below the $1,180 support level this morning on light trading volume. At one point the Gold price traded at $1,170 per ounce, then quickly rallied back to $1,175. It’s important that Gold moves back above the $1,180 area on Monday. At 11am PDT today, Gold is down $9 per ounce...(Read More) -
Daily Market Report 4/30/15
GOLD The U.S. Labor Department reported today that the U.S. Jobless rate dropped to 262,000, a dramatic reduction of 34,000 jobs last week. This is a key indicator for the Federal Reserve when determining interest rates. This news was negative for Gold and Gold quickly dropped to $1,177 per ounce, then rallied back above the $1,180 support level on excellent...(Read More) -
Daily Market Report 4/29/15
GOLD A combination of this morning’s weak GDP report (showing that the first quarter only had growth of .02%) and today’s Federal Reserve report, should be negative for equities and the U.S. Dollar. Today, the U.S. Dollar fell to 1.11 versus the Euro and Gold moved up $6 from the $1,204 low. In today’s Federal Reserve report the Feds removed...(Read More) -
Putin’s Insatiable Appetite for Gold Fueled by These 3 Things
(Read More)The Russian economy continues to plummet into the nadir of despair as low oil prices drive the ruble to record lows. Recently, Russian President Vladimir Putin has been buying gold in droves. What is behind this current unquenchable appetite for the yellow metal . . . .
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Russia resumes gold stockpiling as rouble crisis eases
(Read More)Moscow-based central bank expected to slash rates this week as data show massive gold stockpiling in March . . . .
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Daily Market Report 4/28/15
GOLD With Gold breaking back above the key $1,200 resistance level yesterday, this morning there is a lot of professional short covering. Last Friday, Gold broke below the recent $1,180 to $1,220 per ounce trading range, which caused many professional traders to short Gold contracts. Today, with Gold firmly above $1,200, they are covering those short sales. At 11am PDT...(Read More) -
Weekly Market Report 4/27/15
Links to recent informative articles on precious metals and rare coins: Chinese and Indian Gold Buying: At the Peak since January 2014 China’s Stealth Gold Reserves To Quadruple as IMF Seek Answers Indian Gold Sales Surpass Expectations For Akshaya Tritiya – Analysts Currency Wars Back As Russia Buys One Million Ounces of Gold in March This Week’s Headlines: Gold...(Read More)
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