Barry Stuppler

GOLD Based on a weaker dollar and excellent Asian demand, Gold rallied today. At 11am PDT, Gold is up $20.70, trading at $1,590.10 per ounce. I look for Gold to move above $1,600 per ounce again next week. I’ve attached an extraordinary 100+ page article on Gold by the Erste Group Research called “In Gold We Trust” making the case...

GOLD Today could be a short term reversal day for Gold and let me explain why. Early this morning, Gold dropped to $1,553 per ounce on Asian news (see below), then held in the $1,560 area for a short term on excellent demand. Then, in late trading the market volume increased and Gold rallied to close at $1,568 at the...

GOLD Yesterday, the World Gold Council (WGC) lowered its 2012 Chinese Gold demand estimate to 870 tonnes (a 10% increase of 2011 levels) from 1,000 tonnes, claiming that the firmer dollar and stagnating Gold rally have dented the metal’s attractiveness. Another negative for Gold has been the decrease of Indian Gold buying due mainly to a weak rupee, and a...

GOLD Gold broke above $1,600 earlier this morning and couldn’t hold it. After dropping back below the $1,600 per ounce level many of the short term traders shorted Gold, driving it down to $1,577 per ounce. At 11am PDT, Gold is at $1,581 per ounce, down $11 on above normal volume of trading. SILVER When Gold broke down below $1,600...

In this week’s Market Report, I am requesting the support of clients and friends for HR 5977 (Collectible Coin Protection Act of 2012) which helps to stop the flood of high quality Chinese counterfeit U.S. rare coins that are currently coming into our country from being imported and sold. GOLD The combination of a shortened holiday week and Friday’s disappointing...

GOLD Gold is trading in a very narrow $12 high/low price range today, from $1,580 on the low to $1,592 on the high. Gold is finding support today from mild short-covering and robust buying from the Asian markets whenever the price eases towards $1,580. At 11am PDT, Gold is up $10.80, trading at $1,592 per ounce on average volume. Today, Standard...

GOLD The U.S. Labor Department said this morning that the U.S. employers only created 80,000 jobs in June. The U.S. unemployment rate was unchanged at 8.2%. U.S. employment numbers continue to disappoint the market, as stocks, energy and precious metals all dropped on the news. An additional negative factor is the strong U.S. Dollar, up 2% in just last week...

GOLD Gold tested the $1,600 per ounce support level this morning, reaching $1,596 per ounce before the price came roaring back on heavy demand. At 11am PDT, Gold is trading at $1,608.90 per ounce, down $12.30 per ounce from the Tuesday price. Trading volume is above average for a holiday week. The European Central Bank lowered interest rate to 0.75...

GOLD Gold received renewed buying interest due to a surprise downturn in US and Chinese manufacturing data released late yesterday and this has reignited hopes of further Federal Reserve, Asian and European monetary stimulus. At 11am PDT, Gold is up $20.20, trading at $1,621.20 per ounce on light holiday trading volume.  SILVER Finally, Silver has had a strong rally above...

European Statement Moves the Gold Price After three years and twenty European Summits that have resulted in nothing but rhetoric and vague statements by financial and prime ministers and the Eurozone leadership on the seriousness of the sovereign and banking debt crisis situation, we finally got a serious first step. The deal was done in customary Eurozone style, in the...