Barry Stuppler
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Daily Market Update 6/13/11
GOLDAs of 11am PDT, the spot price of Gold is $1,518.40, down $15.60 from yesterday’s quote. Gold fell today due to a stronger U.S. dollar value (versus the Euro) and a 2.5% drop in the price of Crude Oil. The dollar rallied today after Standard & Poor’s announced they had downgraded Greece’s debt rating to triple C. Triple C is...(Read More) -
Weekly Market Report 6/13/11
GOLDLast Friday Gold closed at $1,528.60, down $14.20 per ounce for the week. The high/low price of Gold last week ranged from $1,555 to $1,526.70. Last week’s negative news that affected the gold market was primarily: Fed Chair Ben Bernanke’s speech on Tuesday giving no indicator of a QE3 coming. Dow Jones Industrial Average down 200 points for the week...(Read More) -
Daily Market Update 6/10/11
GOLDA combination of a sharp increase in the value of the U.S. Dollar (versus the Euro) and a sizeable drop in the value of Crude Oil led to an $8.30 correction in Gold price today, closing at $1,534 per ounce. The U.S. Dow Jones industrial average was also down 150 points today on that same news, amid concerns of all...(Read More) -
Daily Market Update 6/09/11
GOLDGold increased in value today by $6.20, closing at $1,542.30 on average volume. Some U.S. economic data was released today (See Below) that showed a slowing of the U.S. economy. The dollar rallied and crude oil is up slightly today. The term for gold trading this week is ’range bound’, as we have excellent support at $1,533 and resistance at...(Read More) -
Daily Market Update 6/08/11
GOLDGold is down $9.20 today, closing at $1,536.10 in reaction to Ben Bernanke’s speech late yesterday. Bernanke, Chairman of the Federal Reserve, offered no hints of further U.S. monetary easing but did acknowledge the economy has slowed. The Dollar strengthened and the gold/silver mining stocks sold off. This is not surprising to me, whether it comes from the Fed or...(Read More) -
The Boat is Sinking! Throw the Dollar Overboard?
(Read More)There are several lessons to be taken from the fiscal crisis of 2008 and the ensuing recession. Not least among them is the simple fact that the US government is willing to do nearly whatever it takes to stave off recession, even if it means systematically destroying the dollar. As the crisis unwound, the government created money to prop up Fannie and Freddy. They created money to bailout AIG and a handful of banks. They created money for the “stimulus” package. Then they created money through “quantitative easing” not once, but twice. The pattern is clear: the only real tool at the government’s disposal is the creation of money, and they are not afraid to use it....
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Daily Market Update 6/07/11
GOLDGold fell $1.10 an ounce today to $1,536.00 with trading in a very narrow range. Gold firmed up above the $1540 level on weaker prices for the U.S. dollar and crude oil. The market is awaiting direction from the Federal Reserve Chairman. Ben Bernanke is speaking this afternoon to the International Monetary Conference at 12:45pm PDT, in Atlanta, just before...(Read More) -
Daily Market Update 6/06/11
GOLDGold closed today at $1,547.10, up $4.30 an ounce on light trading as the Chinese markets were closed for the Dragon Boat Holiday. The U.S. Dollar continues to be weak versus the Euro, reaching $1.46 to a euro. The geopolitical issues are in the news, with tensions at the Israel-Syria borders and massive protests on Sunday in Greece due to...(Read More) -
6/6/11 Weekly Market Report
A weekly review of the Precious Metal and Rare Coin markets providing information and news that affects future values. GOLDLast Friday Gold closed at $1,542.80, up only $6.20 per ounce for the week. The high/low price of Gold last week ranged from $1,551.60 to $1,518.20. Based on the news released late last week, I was surprised gold was up only...(Read More) -
Inflation Actually Near 10% Using Older Measure
(Read More)Published: April 12, 2011
After former Federal Reserve Chairman Paul Volcker was appointed in 1979, the consumer price index surged into the double digits, causing the now revered Fed Chief to double the benchmark interest rate in order to break the back of inflation. Using the methodology in place at that time puts the CPI back near those levels.
Inflation, using the reporting methodologies in place before 1980, hit an annual rate of...
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