Daily Market Report

Gold traded today between $1,767 and $1,787 waiting for a firm direction. A move back above the key $1,800 support/resistance level. . . .Barry Stuppler

Gold is down today on higher 10-Year U.S. Treasury yields, over 1.3%, and a stronger Dollar Index over 91. Gold’s 1% downturn. . . .Barry Stuppler

A strong U.S. Dollar Index, helped by an increase in 10-year Treasuries caused Gold to break down below the key $1,800 level. . . .Barry Stuppler

Gold did reach a low of $1,810 per ounce during Asian trading this morning, before showing bargain buying. . . .Barry Stuppler

After reaching a high of $1,848 in European trading, Gold sold off in U.S. markets based on concerns of a delay. . . .Barry Stuppler

Yesterday, after Elon Musk of Tesla Inc. bought $1.5 billion of Bitcoin, he clearly stated that Tesla’s revised policies also permit it to invest in Gold

Gold took its first run at $1,850 in early morning Asian trading, reaching a high of $1,848 before seeing some light selling. . . .Barry Stuppler

Democrats in the house are quickly moving on President Biden’s $1.9 trillion COVID-19 stimulus legislation, with the hope of a floor vote. . . .Barry Stuppler

Today, it was reported that the U.S. unemployment rate dropped to 6.3% which caused the U.S. Dollar Index to fall. . . . .Barry Stuppler

A combination of a higher U.S. Dollar Index (over 91.50) and a spike up in the 10-Year Treasury rate has caused Gold. . . .Barry Stuppler