Daily Market Report

The Gold price should get direction from this week’s Federal Reserve meeting's statements . . . . Barry Stuppler

Gold moved above the $1,790 level in European trading on a weaker U.S. Dollar (below 94) . . . . Barry Stuppler

Today we saw a sizeable increase in the value of the U.S. Dollar (over 94), combined with concerns about a Federal Reserve policy change at next week’s meeting, caused a sell-off in Gold/Silver . . . . Barry Stuppler

The Gold price continues to build a base at the $1,800 level after the recent rally . . . . Barry Stuppler

A drop in the value of the U.S. Dollar and interest rates moving lower caused excellent demand for Gold today . . . . Barry Stuppler

Gold tested support this morning and broke down below the key $1,800 level . . . . Barry Stuppler

It appears that strong inflation news outweighs a stronger U.S. Dollar . . . . Barry Stuppler

it was reported that the Bank of England says UK inflation is likely to hit 5% . . . . Barry Stuppler

This base building is healthy after the recent breakout above the $1,765 resistance level . . . . Barry Stuppler

The recent formula has been a weaker U.S. Dollar equals stronger precious metals . . . . Barry Stuppler