Daily Market Report

Just as a number of commodity houses were saying Gold will bottom out at $1,600 and traders were short selling Gold, thinking that $1700 is a resistance level it couldn’t break . . . . Barry Stuppler

This morning higher interest rates and U.S. Dollar Index (92.36) has put pressure on the Gold price, reaching a new 2021 low of $1,678 per ounce . . . . Barry Stuppler

U.S. Employment numbers are moving up, as well as the U.S. Dollar Index (over 92) . . . . Barry Stuppler

Interest rates continue to move higher, causing the U.S. Dollar Index to reach a high of 91.44 . . . . Barry Stuppler

The U.S. Dollar Index moved back above the key 91 level this morning, causing Gold to test its $1,700 per ounce support level . . . . Barry Stuppler

After reaching a new 2021 low of $1,710 per ounce in overnight Asian trading, Gold rallied back in late European and early U.S. trading . . . . Barry Stuppler

The Gold price had a strong rally, reaching $1,761 in Asia and Europe this morning as the 10-Year Treasury reached a low of 1.38% . . . . Barry Stuppler

The 10-Year Treasury interest rates hit a 2-year high today of 1.60%, which caused the U.S. Dollar Index to rally and Gold to. . . .Barry Stuppler

As the 10-Year Treasury bills reached a one year high over 1.50%, Gold couldn’t stay above the key $1,800 level. . . .Barry Stuppler

Reports of strong U.S. Home Sales in January drove up the U.S. Dollar Index and 10-Year Treasuries. . . .Barry Stuppler