Barry Stuppler

With some mild short covering today in the futures markets it feels like the day traders are coming back in and covering their positions . . . .

Last week, we saw a number of world and U.S. events and announcements that affected the precious metal markets both upward and downward . . . .

Gold saw selling in the Far East this morning, driving the price down to . . . .

The Labor department announced that the unemployment rate reached 3.7% in September, a 50 year low . . . .

Based on a strong economy and the Federal Reserve planning to raise interest rates in December, the 10-Year Treasury reached 3.19%, the highest since 2011 . . . .

A higher U.S. Dollar Index is causing Gold to trade above and below the important $1,200 per ounce resistance/support level this morning . . . .

Today, Italy stated that they are thinking about increasing spending and cutting taxes to stimulate the economy . . . .

It’s now been 8 weeks that Gold has stayed between $1,180 and $1,220 per ounce . . . .

A new trade agreement with Canada and Mexico caused a rally in the U.S. Dollar Index (over 95) and our equity markets putting pressure on all four precious metals today . . . .

It was announced today that average 30-year mortgage interest rates hit a seven year high of 4.66% . . . .