Daily Market Report

A new trade agreement with Canada and Mexico caused a rally in the U.S. Dollar Index (over 95) and our equity markets putting pressure on all four precious metals today . . . .

It was announced today that average 30-year mortgage interest rates hit a seven year high of 4.66% . . . .

Late yesterday the Federal Reserve raised the Fed-Funds rate to 2.25% and signaled it was prepared to increase rates again in December . . . .

As we approach a Federal Reserve meeting which is expected to increase the fed funds rate by ¼ point, Gold and Silver has sold-off . . . .

Gold continues to be locked into a tight trading range above and below the important $1,200 per ounce resistance/support level . . . .

A slight sell-off in the U.S. Dollar with renewed concerns about the state of negotiation on trade talks with China has helped the gold price this morning . . . .

Early this morning the U.S. Dollar Index rallied and someone sold 10,000 December Comex 100-ounce contracts (valued at $1.2 billion) in New York . . . .

Concerns about the possibility of a trade war with China isn’t negatively affecting the financial markets . . . .

In the face of a stronger U.S. Dollar and a spike up in interest rates (U.S. 10-year note hitting 3.05%), Gold rallied today . . . .

The interest rate on the 10-Year U.S. Treasury just moved above 3%, signaling a strong chance the Federal Reserve will be raising interest rates soon . . . .