Daily Market Report

GOLD Disappointingly, Gold continues to trade in a tight trading range between $1,128 and $1,134 per ounce. Based on the strength of the U.S. Dollar, and precious metal trading it is likely we will see another test of the recent lows before year end. At 11am PDT today, Gold is trading at $1,129 per ounce, down $4 per ounce on...

GOLD The strength of the U.S. Dollar along with increasing interest rates continue to keep Gold on the defensive. Gold is likely to stay defensive as we approach the end of the year and see year-end tax selling. $1,100 per ounce is a major support/buying level for Gold if we see any year-end sell off. Gold is trading in a...

GOLD We are seeing Gold continue to develop a base after the Fed’s meeting last week. After correcting to $1,126 per ounce this morning, the price quickly rose over the $1,130 level. This shows that the margin traders are clearing out at this level, which is good to see as the U.S. Dollar is slightly up in trading today as...

GOLD It is normal to see trading lighten as we enter the week before Christmas and the Wall Street professionals begin to take time off. For this reason, it is nice to see Gold up slightly today, though the activity is at a lower volume than normal. At 11am PST today, Gold is trading at $1,138, up $3 on lower...

GOLD The Dow is down today and losing some of its momentum towards reaching an all-time high of 20,000 in stock trading. The metals markets, however, are starting to regain some of the pull back from yesterday. This is typical of Friday markets, as traders need to cover their positions before the weekend begins. It wouldn’t surprise me if we...

GOLD It looks like the Fed announcement of a .25% rate increase has woken up the commodities market after a couple of days of slumber. Following the Fed announcement, the US Dollar is hitting a 14 year high and, as expected, metals have lowered. With Gold dipping below the $1,160 level, day traders had to cover their positions and sell...

GOLD The markets wait in anticipation for the Fed report to be released at 11am PST. Gold regained its losses yesterday and is back up, but on very light volume. At 11am PST today, Gold is trading at $1162 per ounce, up $4 on low volume. SILVER We are back over the $17 level again as we continue to test...

GOLD Another relatively quiet morning as Gold is slightly down on this day before the Fed releases an update about a possible rate hike. According to the market, the feeling is that the Fed should consider raising rates slightly. Typically with rate hikes we have seen in the past, Gold initially declines, but then goes higher in the long run...

GOLD It appears that today Gold hit a low in the beginning of London Trading with an opening low of $1151.10. However, throughout London’s trading as well as morning activity in the US Markets, Gold has slowly returned back over the $1160 level with some above average buying. This is good to see after the latest US Treasury 10-year note...

GOLD Today Gold is down slightly, but staying in a narrow range especially the last few days. Gold hit a low of $1,157.60 this morning during  New York trading, but is now working its way back up. This appears to be traders closing out their positions for the week. At 11am Gold is at $1,161 down $10 on above average...