Barry Stuppler
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Daily Market Report 8/30/12
GOLD The price of Gold is in the middle of the recent $1,640 to $1,680 trading range. Tomorrow we will know what Federal Reserve Chairman Ben Bernanke will say in his Jackson Hole, Wyoming news conference. If he announces a new stimulus package (QE3), Gold should break out above the $1,680 per ounce level, perhaps breaking through the $1,700 resistance...(Read More) -
Daily Market Report 8/29/12
GOLD Gold appears to be treading water awaiting clear short term directions, which will come on Friday, when Federal Reserve Chairman Ben Bernanke gives his news conference from the annual Jackson Hole symposium in Wyoming. The precious metal markets anticipate that Bernanke may announce additional monetary stimulus. Today, Gold has had a $18 High/Low price range, of $1,652 on the...(Read More) -
3 Reasons China Wants its Citizens to Own Precious Metals
(Read More)Due to China’s huge size, its developing economy is having a growing influence on the global economic system. One commodity that has been particularly strongly affected by Chinese popular demand is silver and other precious metals like gold.
Not only has the Chinese government been moving toward holding precious metals in reserve as an alternative to paper currencies like the U.S. Dollar, but it has recently also encouraged its citizens to own precious metals as a way to store their wealth in a valuable physical asset . . . . -
Daily Market Report 8/28/12
GOLD Gold appears to be developing another tight trading range on a normal volume. We are seeing short term support at $1,656 and long term support at $1,640 per ounce. While short term resistance is at $1,680, long term resistance is at $1,700 per ounce. This type of trading is very bullish for Gold as it consolidates trading and takes...(Read More) -
Weekly Market Report 8/27/12
This week’s Market Report provides you with an update on the precious metal market activities, as Gold breaks out above the $1,600 per ounce level and starts its run to all-time highs. I also discuss what is next for Silver, which broke out above $30 an ounce and became bullish. Additionally, I am asking my clients and friends to contact...(Read More) -
Daily Market Report 8/27/12
GOLD After last week’s $53 per ounce increase, Gold has been trading in a very narrow $9 per ounce low/high trading range today. Gold hit a low this morning of $1,666 in Asia before a rally back above $1,670 per ounce. At 11am Gold is trading at $1,673 per ounce, virtually unchanged from last Friday’s close. Like I said in...(Read More) -
Daily Market Report 8/24/12
GOLD The reason for the Gold price increase has been a strong feeling that the FOMC will provide some economic stimulus at its upcoming meeting. This statement from Charles Evans, President of the Chicago Federal Reserve Bank supports that feeling, “Without the need to see more data, I urge central banks around the world, including China and the US, to...(Read More) -
Republicans eye return to gold standard
(Read More)The gold standard has returned to mainstream US politics for the first time in 30 years, with a “gold commission” set to become part of official Republican party policy . . . .
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Daily Market Report 8/23/12
GOLD Gold rose for a seventh day in a row on Thursday just minutes after the U.S. Federal Reserve’s most recent policy meeting gave an unexpectedly clear signal that our central bank may launch a new round of fiscal easing measures to boost the economy. Gold and Platinum prices continued to soar as investors were concerned with supply disruptions. The killing of...(Read More) -
Daily Market Report 8/22/12
GOLD Yesterday, Gold broke out of its five month trading range. Today, trading has confirmed the break out as it continues to increase. We could easily see Gold reach $1,700 per ounce by month end. At 11am PDT, Gold is up $7.00 per ounce, trading at $1,645 per ounce on heavy volume. SILVER Silver is continuing it move higher, hopefully...(Read More)
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