Daily Market Report

Gold continues to trade in a declining $15 high/low range today . . . .

After reaching a low of $1,245.50 per ounce on Thursday, we saw a rally start in Asia and move through the Mid-Eastern and European markets . . . .

In early Asian trading there was serious concern that a trade war would lead to a devaluation of the Chinese Yuan . . . .

A good number of professional commodity traders have recently shorted Gold . . . .

The Gold price remains on the defensive, hitting a low of $1,254.50 per ounce in early trading . . . .

Gold is trading in a narrow $8 High/Low range from $1,264 to $1,272 per ounce today . . . .

Gold has traded in a very tight $5 High/Low spread today, between $1,266 and $1,271 per ounce . . . .

This morning in early morning trading Gold was sold down to $1,258 per ounce on little selling. At that point . . . .

The stronger U.S. Dollar Index, which is now at the 95 level, is keeping Gold from moving higher . . . .

This morning bargain buyers jumped into Gold in Asia, Europe and in American markets and firmed up demand . . . .