Daily Market Report

After an unsuccessful attempt to break above the key $1,300 level yesterday and last night the Gold market was hit with selling . . . .

Gold has traded in a narrow $7 High/Low range all day, between $1,297.50 and $1,290.50 per ounce . . . .

With a weaker U.S. Dollar and lower interest rates, Gold opened higher, reaching a high of $1,299 per ounce . . . .

For most of today’s Asian trading, Gold stayed above the key $1,280 per ounce level . . . .

After reaching a low of $1,276 per ounce, Gold has rallied back above the key $1,280 level . . . .

Gold suffered from short-term profit taking after last week’s $22 rally . . . .

A slightly weaker U.S. Dollar based on reports of a stronger equity market in Europe and Gold is finally on the move . . . .

Unbelievable, a $7 high/low trading range for Gold today, trading from $1,275 to $1,282 per ounce . . . .

In overnight Asian trading there was strong Gold demand, driving the price up to $1,289 per ounce for a short period of time . . . .

Finally, a weaker U.S. Dollar has helped the Gold price move back above the $1,280 per ounce level today . . . .