Daily Market Report

The Biden administration just unveiled new sanctions against the cryptocurrency exchanges . . . . Barry Stuppler

Today, we have the stock market, Bitcoin, the U.S. Dollar and interest rates dropping while Gold is moving higher . . . . Barry Stuppler

As the value of the U.S. Dollar continues to move higher (Above 93), it's putting more pressure on the price of precious metals . . . . Barry Stuppler

An unexpectedly strong increase in U.S. retail sales has boosted the value of the U.S. Dollar . . . . Barry Stuppler

Gold traded today in a narrow one percentage range between $1,790 and $1,808 per ounce as it continues . . . . Barry Stuppler

Gold moved above the key $1,800 resistance level this morning . . . . Barry Stuppler

In early trading in Asia and Europe, a strong U.S. Dollar took the Gold price down to $1,785 per ounce, then came sizeable buying that lifted the price to over $1,795 . . . . Barry Stuppler

A small increase in today’s reported Producer Price Index to 0.7% for August kept Gold . . . . Barry Stuppler

Gold reached a low of $1,783 per ounce in oversea markets . . . . Barry Stuppler

A stronger U.S. Dollar (above 92.83) isn’t helping the precious metal prices . . . . Barry Stuppler