Daily Market Report

Today, Gold is trading in a narrow $10 high/low range, searching for support.... Barry Stuppler

The ADP report on employment payroll showing growth of only 89,000 jobs for September was released this morning. . . .Barry Stuppler

Last night in Asian trading, Gold reached the 2023 low of $1,818 per ounce.... Barry Stuppler

Gold reached its lowest price since March this morning, testing the key $1,850 per ounce level.... Barry Stuppler

After breaking the key $1,900 support level, Gold remains on the defensive.... Barry Stuppler

Minneapolis Fed President Neel Kashkari said late yesterday that there’s a 40% chance that the central bank will need to push interest rates “meaningfully higher” to curb inflation. This statement affected the U.S. Dollar and Interest rates, driving them higher.... Barry Stuppler

U.S. Dollar and interest rates are higher, while precious metals are lower, which is just the way it works most of the time.... Barry Stuppler

Both interest rates and the U.S. Dollar Index hit new highs this morning.... Barry Stuppler

The Gold market seems to be caught in a neutral territory following the S&P Globals data report.... Barry Stuppler

After yesterday’s announcement from Federal Reserve chairman Powell that interest rates may not be slowing down as original thought, the markets reacted.... Barry Stuppler