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Daily Market Report 2/17/17

2/17/17 11:03 AM

GOLD

After another up week, Gold is settling into a nice tight trading range between $1,236 and $1,244 per ounce today. Gold continues to move higher this year at an excellent gradual pace. At 11am PST today, Gold is trading at $1,238 per ounce, down $2 on average volume.

SILVER

After a brief correction to $17.95 per ounce, Silver has traded over the important $18 per ounce support/resistance level for most of the day. At 11am PST today, Silver is down $0.04 per ounce, trading at $18.03 on normal volume.

Posted in Daily Market Report By Barry Stuppler

Daily Market Report 2/16/17

2/16/17 11:06 AM

GOLD

Gold is back on its bullish track today, having reached a high of $1,242 before seeing some light short-term profit taking. The U.S. Dollar weakened and the Gold price quickly moved up to $1,242 from this week's low of of $1,217 per ounce. At 11am PST today, Gold is trading at $1,240 per ounce, up $9 on excellent volume.

SILVER

Silver busted out above the key $18 per ounce resistance level this morning and has traded there most of the day. It’s important that Silver stays above $18 for the next few trading days, to establish a new base. At 11am PST today, Silver is up $0.10 per ounce, trading at $18.07 on good volume.

Posted in Daily Market Report By Barry Stuppler

Daily Market Report 2/15/17

2/15/17 11:04 AM

GOLD

As the U.S. Dollar continued to rally versus other world currencies, the Gold price dropped to $1,217 in early trading. At that price bargain buyers appeared and the Gold quickly rallied $10 per ounce. At 11am PST today, Gold is trading at $1,231 per ounce, up $8 on excellent volume.

SILVER

Silver has traded today within a 1% range, between $17.82 and $17.97 per ounce. Silver keeps wanting to break above the key $18 per ounce resistance level, and when it does it could run fifty cents. At 11am PST today, Silver is up $0.05 per ounce, trading at $17.97 on good volume.

Posted in Daily Market Report By Barry Stuppler

Daily Market Report 2/14/17

2/14/17 11:01 AM

GOLD

In the face of a strong U.S. Dollar, Gold is consolidating in a narrow range between $1,221 and $1,234 per ounce today. Fed Chairwoman, Janet Yellen, testified to congress, confirming that the Fed is still considering 2 to 3 interest rate increases, based upon economic data. At 11am PST today, Gold is trading at $1,223 per ounce, down $2 on average volume.

SILVER

Today, Silver took its second attempt to break above the key $18 per ounce resistance level, reaching $18.09 in early trading. Silver continues to show excellent support in the $17.80 per ounce range. At 11am PST today, Silver is up $0.07 per ounce, trading at $17.92 on normal volume.

Posted in Daily Market Report By Barry Stuppler

Daily Market Report 2/13/17

2/13/17 11:01 AM

GOLD

A strong U.S. Dollar and equity market caused Gold to sell-off this morning. Gold reached a low of $1,220 per ounce and found bargain buyers. Gold continues to show excellent support and I look for this retracement to be brief. At 11am PST today, Gold is trading at $1,225 per ounce, down $8 on good volume.

SILVER

Silver briefly broke above the key $18 resistance this morning, reaching a high of $18.01 per ounce. Silver then sold off with Gold and found excellent support at $17.75. At 11am PST today, Silver is down $0.07 per ounce, trading at $17.85 on normal volume.

Posted in Daily Market Report By Barry Stuppler

Daily Market Report 2/10/17

2/10/17 11:02 AM

GOLD

In early morning Asian trading, the U.S. Dollar rallied and Gold/Silver sold off. Gold reached a low of $1,221 per ounce, at which point it quickly rallied $10 in the face of a strong U.S. Dollar. At 11am PST today, Gold is trading at $1,233 per ounce, down $2 on average volume.

SILVER

Silver was briefly brought above the key $18 per ounce level this morning and was quickly met with light short term profit taking. I believe Silver will make a second attempt at this level on Monday. At 11am PST today, Silver is up $0.19 per ounce, trading at $17.92 on good volume.

Posted in Daily Market Report By Barry Stuppler

Daily Market Report 2/9/17

2/9/17 11:06 AM

GOLD

Today Gold has been trading between $1,230 and $1,244 per ounce, showing excellent support. Gold is also showing good consolidation today, as it builds a higher base for a move to $1,250 this month. At 11am PST today, Gold is trading at $1,235 per ounce, down $4 on good volume.

SILVER

Silver hit support this morning at $17.60 per ounce and quickly rallied $0.10 on good demand. Silver is showing excellent investment accumulation in the current price range. At 11am PST today, Silver is down $0.02 per ounce, trading at $17.73 on average volume.

Posted in Daily Market Report By Barry Stuppler

Daily Market Report 2/8/17

2/8/17 11:08 AM

GOLD

The Gold rally continues, moving to $1,244 per ounce this morning and heading to the next resistance level of $1,250 very soon. What is interesting about the current rally is that it it happening in the face of a strong U.S. Dollar, which is normally a negative factor. At 11am PST today, Gold is trading at $1,239 per ounce, up $5 on good volume.

SILVER

After reaching a high of $17.90 per ounce this morning, Silver is trading in a narrow $0.15 high/low range. Silver continues to build a base for its first attempt at the $18 resistance level. At 11am PST today, Silver is up $0.03 per ounce, trading at $17.75 on average volume.

Posted in Daily Market Report By Barry Stuppler

Daily Market Report 2/7/17

2/7/17 11:13 AM

GOLD

After yesterday’s $11 rally, Gold is consolidating this morning in a narrow $8 high/low range. It’s very healthy for Gold to trade in the current range while it builds a base for the first attempt at the $1,250 per ounce resistance level. At 11am PST today, Gold is trading at $1,234 per ounce, up $3 on excellent volume.

SILVER

Silver continues to build an excellent base before moving to the $18 per ounce resistance level. Both physical and future contracts for Silver are showing a solid increase in demand. At 11am PST today, Silver is trading at $17.72 per ounce, up $0.04 on good volume.

Posted in Daily Market Report By Barry Stuppler

Daily Market Report 2/6/17

2/6/17 11:00 AM

GOLD

Gold opened higher this morning, reaching a new 2017 high of $1,232.40 per ounce, with active trading. Today, we saw this year’s first test of the $1,230 resistance level, and I believe we will see $1,250 before the end of the month. At 11am PST today, Gold is up $13 per ounce, trading at $1,231 on excellent volume.

SILVER

Silver followed Gold higher this morning, reaching $17.73 per ounce. It was announced today that the 2016 CME trading volume for Silver was up 40%, this reflects a solid increase in new Silver investors. At 11am PST today, Silver is trading $17.68 per ounce, up $0.26 on excellent volume.

Posted in Daily Market Report By Barry Stuppler
 

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