Daily Market Report

Gold has traded today in a very narrow $8 high/low range, from $1,224 to $1,216 per ounce . . . .

Janet Yellen gave testimony to Congress today and stated that, “considerable uncertainty always attends the economic outlook” . . . .

Gold was trading in New York this morning around $1,210 per ounce, then the Donald Trump Jr. email news was released and it jumped $5 per ounce . . . .

This morning Gold hit a low of $1,204 in Asian markets on heavy volume. It appears that was the Gold price bottoming out . . . .

This morning the U.S. Department of Labor stated that June employment increased by 222,000 workers, much higher than expected . . .

Gold has been locked in a $1,222 to $1,228 per ounce trading range for most of the day . . . .

During the July 4th holiday, Gold moved higher, reaching $1,230 on the news of the North Korean missile launch . . . .

This morning Gold broke below the $1,230 per ounce 200-day moving average . . . .

Going into a long holiday weekend, trading volume is weak . . . .

Gold tested the support level, reaching a low of $1,239.50 before major buyers appeared . . . .