Daily Market Report

Gold showing resistance at the $3,650 level today with excellent support above $3,600 per ounce... Barry Stuppler

The U.S. Labor Department announced this morning that the Producer Price Index (PPI) fell -0.1% in August, below expectation and following a July’s unrevised 0.9% rise... Barry Stuppler

Gold kept on moving higher in oversee markets and the U.S., reaching a high of $3,669 per ounce... Barry Stuppler

Over the weekend, many financial analysts and large worldwide Banks have confirmed that the Federal Reserve will start lowering interest rates at their upcoming meeting this month... Barry Stuppler

Today, we saw the nonfarm payrolls increased by only 22,000 for August, lower than the 75,000 forecast, while the unemployment rate rose to 4.3% according to the Bureau of Labor Statistics... Barry Stuppler

Gold tested the key $3,500 support level, reaching $3,509 and quickly rallying higher... Barry Stuppler

The U.S. Labor Department reported today that July job openings dropped sharply to 7.18 million, down from June’s reading of 7.36 million... Barry Stuppler

Over the long holiday weekend, President Trump claimed on his Truth Social platform that US prices are “WAY DOWN” with virtually no inflation... Barry Stuppler

The University of Michigan announced today that its Consumer Sentiment survey for August was 58.2, which was below the preliminary reading of 58.6 and also lower than July’s final reading of 61.7... Barry Stuppler

A weaker U.S. Dollar combined with the two neutral U.S. economic reports sent gold above the key $3,400 resistance level during late London trading and on U.S. Markets... Barry Stuppler