Daily Market Report

With the U.S. Dollar now trading at a 2-month high and interest rates and equity markets strong, Gold remains on the defensive . . . .

U.S. interest rates increased to a six month high today (10-year at 2.45%) and Gold remains unchanged . . . .

As our equity markets and the U.S. Dollar continue to rise, Gold is holding in a narrow trading range between $1,274 and $1,284 per ounce . . . .

Most of this morning Gold has traded in a very narrow $8 high/low range, with spot Gold trading between $1,280 to $1,272 . . . .

Last night the U.S. Senate passed a $4 trillion Budget Bill, clearing the way for . . . .

Gold reached a low of $1,276.40 this morning before seeing weakness in the U.S. Dollar . . . .

For most of today, the yellow precious metal is trading in the $1,280 range . . . .

Yesterday Gold reached a high of $1,305 before President Trump and Senator Mitch McConnell held a press conference to talk about the passage of Tax Reform legislation before year end . . . .

We are seeing good volume from Asian buyers today, supporting the important $1,300 level for Gold . . . .

The Gold rally continued this morning as Asian buying took the price over the important $1,300 per ounce resistance level . . . .