Daily Market Report

Gold trading started last night in China in a narrow range between $4,195 and $4,206 per ounce... Barry Stuppler

Last night in overseas trading, Gold reached a low of $4,194 in China and then moved back above $4,200 and stayed there in India, London, and U.S. trading... Barry Stuppler

Last night, Gold fought to stay above the $4,200 level in all of the overseas markets... Barry Stuppler

Gold continues to consolidate while building an excellent base above $4,200 per ounce in all the overseas markets last night... Barry Stuppler

Gold was trading over $4,200 in China and India, reaching a high of $4,237 last night. Then, in Late London trading and in the U.S., selling hit the Gold market, dropping the price down to $4,165 per ounce... Barry Stuppler

Gold started trading in Hong Kong last night at $4,241 per ounce, up $20 on excellent volume... Barry Stuppler

The financial markets are now believing that there will be another interest rate cut in December by the Federal Reserve. A weaker U.S. Dollar also contributed to the rise in precious metals... Barry Stuppler

October’s Consumer Confidence Index dropped to 88.7, that’s weaker than expected. Economists had been looking for a relatively smaller decline to 93.5... Barry Stuppler

Gold reached a low this morning in China of $4,040 per ounce, before finding buyers in London and the U.S., which took the price up to $4,100... Barry Stuppler

Uncertainty is definitely leading to higher volatility in the precious metal markets... Barry Stuppler