Daily Market Report

GOLD This morning Gold tested the $1,280 support level, reaching a low of $1,277. The support level held and the Gold price quickly rallied back to $1,288 per ounce. I believe the market will trade in a tight range awaiting news from Janet Yellen’s testimony to Congress this Wednesday and Thursday, and the Brexit vote in Great Britain also on...

GOLD Yesterday we had a lot of trading volatility in the world’s Gold markets. Gold reached a new 2016 high of $1,316.40, but ended the day trading at $1,281.20 per ounce. This short term profit taking happened quickly on a high volume of over 354,558 hundred-ounce CME Gold contracts. This morning, Gold reached a low of $1,278.90 before bargain buyers...

GOLD Yesterday’s press conference from Federal Reserve Chairman Janet Yellen was very bullish for Gold. Chairman Yellen’s biggest surprise was the lack of any hint that the Fed is ready to raise interest rates any time soon. There was speculation that the Fed would raise interest rates in July, after Yellen’s press conference it has now been pushed out to...

GOLD Gold is trading in a tight $10 high/low range, from $1,288 to $1,278 per ounce. I believe the Gold market is waiting for Janet Yellen’s press conference to give it some firm direction.There is a great article on why George Soros is making a big bet on Gold, click on the following link to read it: George Soros Making...

GOLD Gold is trading between $1,276 and $1,290 per ounce today as it consolidates its recent gains. Gold could get a further boost if a June 23rd vote by Britain to leave the 28-member European union (dubbed "Brexit") pushes Europe back into a recession. At 11am PDT today, Gold is up $4 per ounce, trading at $1,285 on excellent volume...

GOLD During Asian trading this morning, Gold hit a high of $1,287 per ounce. Today’s precious metal rally was caused by a weaker U.S. Dollar and weaker European stock markets.These weaknesses are based on concerns over a central bank meeting this week and the June 23 vote on whether Britain should leave the European Union. At 11am PDT today, Gold...

GOLD Gold is consolidating this week’s $30 gain today, trading above and below the $1,270 per ounce level. Next week we should see a little more base building, followed by a move towards the $1,300 per ounce resistance level. The bullish trend is firmly in place and adding additional Gold to your holdings is highly recommended. At 11am PDT today...

GOLD The rally continues, Gold buyers have been very aggressive in Asia and Europe. Gold demand in the U.S. markets (futures, options, and physical) is showing excellent demand. I believe that Gold will reach the $1,300 per ounce level this month. At 11am PDT today, Gold is up $11 per ounce, trading at $1,270 on excellent volume. SILVER Silver tested...

GOLD Declining expectations that the U.S. Federal Reserve will raise interest rates any time soon has caused a weaker US Dollar and has driven up Gold and Silver prices today. This morning Gold broke above the $1,250 resistance level and quickly reached a high of $1,264 per ounce. I was expecting this move on Thursday or Friday, but I’ll gladly...

GOLD Gold continues to consolidate last Friday’s $30 per ounce increase. For the most part of today, Gold is trading in the $1,240 to $1,245 per ounce range. A move above $1,250 per ounce later this week would be healthy and support the bullish sentiment. At 11am PDT today, Gold is trading at $1,245 per ounce, unchanged. SILVER Silver found...