Daily Market Report

This morning the world’s equity markets have stabilized and Gold moved higher in Asian, Middle Eastern, and European markets . . . .

Alongside a drop of 2,700 point in the Dow Jones average since the beginning of February (10.3%), Gold has dropped $35 (2.5%) during the same period . . . .

A weaker U.S. equity market is bringing in fresh buyers to the precious metal trading pits . . . .

A higher U.S. Dollar, interest rates, and Equity Market are putting pressure on the Gold price . . . .

After reaching a high of $1,346 in Asia, Gold sold off in European and U.S. Markets . . . .

Gold briefly moved below the key $1,330 support price in Asian markets, then quickly rallied $5 per ounce . . . .

Today the Labor Department said that U.S. employment increased by 200,000 jobs for January. This caused the U.S. Dollar and interest rates to rally and Gold/Silver and equity markets to decline . . . .

Late yesterday the Federal Open Market Committee said that they expect that inflation will move up this year . . . .

Gold traded in a $11 high/low range today within the recent consolidation levels . . . .

A bear market rally in the U.S. Dollar has added a little pressure on the Gold price today . . . .