Daily Market Report

Gold continues to consolidate recent gains and build a firm base for the next move past $3,800.

Gold reached a high this morning of $3,780 per ounce before seeing some profit-taking on London and the U.S. markets... Barry Stuppler

Demand continued to be strong for many Gold products, especially in India... Barry Stuppler

This morning, we saw Gold moving higher in all the overseas markets... Barry Stuppler

After reaching a recent low of $3,631 yesterday, the call looked attractive to many Asian and European buyers and started moving higher today... Barry Stuppler

Gold traded yesterday between $3,645 and $3,708 after the release of the Federal Reserve press release and Fed Chairman Powell’s press conference... Barry Stuppler

Gold reached a low this morning during European trading of $3,659 before finding bargain buyers... Barry Stuppler

Gold made its 1st attempt to break above the $3,700 level this morning in European trading... Barry Stuppler

The Empire State Manufacturing Survey for September reported this morning that the general business conditions index dropped significantly... Barry Stuppler

Based on key US economic reports on unemployment and inflation market analysts are looking forward to the Federal Reserve dropping interest rates next week... Barry Stuppler