Daily Market Report

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

Gold reached a high of $3,399.70 today before short-sellers drove the price down to $3,388... Barry Stuppler

Gold traded lower after yesterday close, dropping $15 to $3,357 by 5pm EST... Barry Stuppler

Gold traded today between $3,358 and $3,377 per ounce, as it builds a firm base above the key $3,350 per ounce support level... Barry Stuppler