Barry Stuppler

Lower 10-year U.S. Bonds and a lower U.S. Dollar Index are helping Gold move above the $1,230 level today . . . .

The precious metal last week took support at lower levels and bounced back to trade above the important resistance level of $1,225 after the US Federal Reserve chair Janet Yellen spoke about growth projections of the US economy and further increase in interest rates . . . .

A disappointing June Consumer Price Index report showing that retail sales were unchanged caused a rally in Gold and Silver today . . . .

Sprott Inc., the precious metals-focused money manager, sees gold rising by the end of 2017 as weaker-than-expected economic growth drives stock prices lower . . . .

Gold has traded today in a very narrow $8 high/low range, from $1,224 to $1,216 per ounce . . . .

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 . . . .