Daily Market Report

The 4th quarter of 2017 GDP was revised today and in it increased to 2.9%. This caused the Gold price and stock markets to start moving lower . . . .

Yesterday Gold closed up $4 in the face of a 669 point increase in the Dow/Jones average . . . .

Gold reached a high of $1,356 per ounce, above the key $1,350 resistance level . . . .

After our President signed an executive order putting $60 billion worth of new tariffs on China, it appears the Asian financial markets are really concerned about a trade war . . . .

Between yesterday’s dovish statements by Federal Reserve Chair Powell and today’s Chinese trade tariffs from the White house, the volatility in the financial markets has increased dramatically . . . .

Speculation around a more dovish strategy coming from today’s Federal Reserve announcement and press conference by J. Powell was supportive for the Gold price . . . .

Today, Gold is trading in a narrow $10 high/low range, between $1,318 and $1,308, awaiting tomorrow’s Fed announcement on interest rates . . . .

After reaching a 2018 low of $1,307 per ounce this morning in Asian markets, the Gold trading volume and price started to rally . . . .

A rally in the U.S. Dollar continues to put pressure on precious metal prices, with Gold reaching a low of $1,309 per ounce this morning . . . .

A U.S. Dollar rally has put Gold on the defensive during trading today. Gold hit a low of $1,315 before finding good support . . . .