Daily Market Report

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...

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...

GOLD I continue to be impressed by the price activity in the Gold market. Every time the Gold price has a brief sell-off and reaches support, strong buying appears and the market rallies back. In late trading yesterday, Gold reached a 2017 high of $1,224 per ounce, and is trading in an narrow range today. At 11am PST today, Gold...

GOLD Late yesterday the U.S. Federal Reserve gave a report with no clear signal for the direction of interest rates in the near future. This report caused the U.S. Dollar to reach a 12-week low and Gold to rally in Asian, Middle Eastern and European markets, reaching $1,225 per ounce. Gold is now trading at a new 2017 high. At...

Gold For most of today, Gold has been trading from $1,200 to $1,212 per ounce, consolidating above the support level. With China’s Gold markets on holiday because of the Chinese New Year, the Asian volume is very thin. At 11am PST today, Gold is trading at $1,205 per ounce, down $6 on average volume. Silver As Gold sold off this...

GOLD It’s been an exciting day today with the value of the U.S. Dollar dropping almost 1%, a sizeable increase in the Gold ETF (Paper Gold) mutual funds, and concerns about Trump’s policy statements on currency devaluations. Gold immediately broke above the $1,200 resistance level and kept on going, reaching $1,215 per ounce, before seeing some light profit taking. At...

GOLD As we approach the end of the first month of trading in 2017, Gold is continuing to test the $1200 level, already having climbed over 3% this year. It appears today is the last day that Future traders can get out of February Gold contracts and into April’s. This means we are seeing activity from long term investors as...

GOLD As the U.S. Dollar strengthened earlier today, Gold reached a low of $1,181 per ounce. That was a very attractive price for traders and Asian and Middle Eastern buyers. I believe what we saw yesterday and today was the correction of the 2017 Gold rally. I look for price consolidation and a quick rally back to the $1,200 level...

GOLD As the U.S. Stock Markets and Dollar continue to move higher, Gold is on the defensive. Gold hit a low of $1,184.50 this morning before bargain buyers and professional traders became aggressive. This is the second test of the important $1,200 per ounce resistance/support level, and I believe it will move above it shortly. At 11am PST today, Gold...

GOLD With the Dow-Jones hitting a new high (over 20,000 points) and the U.S. Dollar rallying, Gold sold off, dropping below the key $1,200 level. The U.S. commodity markets showed an increase in trading volume, while Gold traded actively between $1,194 and $1,204. At 11am PST today, Gold is down $12 per ounce, trading at $1,198 with excellent volume. SILVER...