Barry Stuppler
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Weekly Market Report 11/19/12
This week update the status of Gold and Silver’s support and resistance levels and discuss what will happen to Gold when the Basel III rules are enacted starting in January of 2013. GOLD Last week Gold stayed in its $1,700 to 1,740 per ounce trading range, closing the week at $1,714.70, down $16.20 per ounce for the week. The Gold...(Read More) -
Daily Market Report 11/19/12
GOLD With all the Congressmen and women out on a Thanksgiving holiday break, there isn’t any negative talk about a Fiscal Cliff deal, so the markets have rallied today. Both the Senate and House of Representatives will be in session from Tuesday, November 27th to Friday, December 14th when they both scheduled to go on recess for the holidays. Any...(Read More) -
Gold Just Became Money Again
(Read More)This year the Federal Reserve and FDIC circulated a letter to banks that proposes to harmonize US regulatory capital rules with Basel III. BASEL III is an accord that tells a bank how much capital it must hold to safeguard its solvency and overall economic stability. It’s a global standard on bank capital adequacy, stress testing, and market liquidity risk. At the top of the proposed changes is the new list of “zero-percent risk weighted items,” which now includes “gold bullion,” right after “cash.” That’s the part to take notice of . . . .
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Daily Market Report 11/16/12
GOLD Today’s White House meeting between the President and Congressional leaders has been seen as constructive by the financial markets and stock, energy and precious metal markets rallied on the news. The possibility of avoiding a fiscal cliff with an agreement which would provide revenue increases, coupled with spending cuts, was accepted by both parties. When the news was reported...(Read More) -
3Q Global Gold Supply Falls 2% Year-On-Year; Mine Output, Recycling Lower
(Read More)Global gold supplies contracted 2% year-on-year in the third quarter to 1,188.3 metric tons due to lower mine production and less recycling of scrap gold, the World Gold Council said Thursday . . . .
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Daily Market Report 11/15/12
GOLD Gold traded down to $1,704 earlier this morning as result of a strengthening U.S. Dollar versus the Euro. At that point, major demand came into the market and Gold quickly rallied up $10 per ounce. At 11am PDT Today, Gold is trading at $1,714.60 per ounce, down $16 per ounce on heavy volume of trading. THE BIG MONEY...(Read More) -
Daily Market Report 11/14/12
GOLD Today’s Gold rally is in the face of a U.S. Dollar reaching a two-month high versus the Euro, British Pound and Swiss Franc, hitting $1.26 to the Euro. The short term resistance level for Gold is $1,735 per ounce, however we hit that level earlier today and quickly sold back to $1,725 per ounce. At 11am PDT today, Gold...(Read More) -
Daily Market Report 11/13/12
GOLD At 11am Today, Gold is trading at $1,726.40 per ounce, down $4.80 per ounce on average volume of contracts. Earlier this morning, Gold did reach $1,717.60 per ounce on light selling until we saw an increase in demand. SILVER Silver today is trading in a narrow range $0.72 price range, from a low of $32.10 and a high of...(Read More) -
Weekly Market Report 11/12/12
This week I discuss the status of Gold and Silver’s support and resistance levels. I also offer my opinion on the Obama Gold rally, now that he has been re-elected for the next four years, as well as what happened to the price of Gold in the last four years as a result of Obama and the Federal Reserve’s fiscal...(Read More) -
Daily Market Report 11/12/12
GOLD Gold has traded in a very narrow $13 range today, from $1,725.50 on the low to $1,738.30 on the high. It appears has the Gold price is consolidating in this range awaiting news that will allow it to test the $1,750 short term resistance level. The U.S. Dollar continues to rally versus the Euro, trading at $1.26 to the...(Read More)
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