Daily Market Report

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

Gold and Silver prices are lower this Thursday, in light of the easing of safe-haven buying as the September Jobs report came in strong, and the tapering of safe-haven buying... Barry Stuppler

Today, Gold traded in a wide range from a low of $4,055 to a high of $4,133 per ounce... Barry Stuppler

In overseas trading last night, Gold fought to stay over $4,000 per ounce... Barry Stuppler