Barry Stuppler

Janet Yellen gave testimony to Congress today and stated that, “considerable uncertainty always attends the economic outlook” . . . .

The gold market rendered a quick dovish read on Federal Reserve Chair Janet Yellen’s prepared testimony to Congress . . . .

Gold was trading in New York this morning around $1,210 per ounce, then the Donald Trump Jr. email news was released and it jumped $5 per ounce . . . .

Last Monday, Gold dropped $23 per ounce, breaking below the important 200-day moving average of $1,230. Afterwards, Gold quickly dropped below $1,220, when the sentiment on the trading floor turned negative . . . . 

This morning Gold hit a low of $1,204 in Asian markets on heavy volume. It appears that was the Gold price bottoming out . . . .

Gold prices have moved moderately lower in the aftermath of a U.S. non-farm payrolls number that was a big miss to the upside. Gold initially pushed a bit higher right after the employment report, but those gains were short-lived. Gold prices had traded modestly lower overnight . . . .

This morning the U.S. Department of Labor stated that June employment increased by 222,000 workers, much higher than expected . . .

Gold has been locked in a $1,222 to $1,228 per ounce trading range for most of the day . . . .

Despite recent pressure, famed investor and gold expert Dennis Gartman says he’s "reasonably impressed" with the metal’s performance, especially as sister commodity crude oil struggles . . . .