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GOLD

This morning, I received a highly informative blog from Walter Pehowich, which I wish to share.

“Where do I start? There is so much going on here in the States and around the globe that affects the price of gold in a positive way. I can hear the Wall Street Gold traders cheering the price of gold on with all the news to fuel their long positions, including:

  • A weaker dollar and treasury yields
  • Strong inflows into the Gold ETF s overnight
  • Weaker equities (Is the Trump rally over?)
  • Russia talking tough
  • Syrian issues
  • North Korea threat
  • Healthcare (when?)
  • Tax reform (if?)
  • The Democrats digging in their heels promising to fight tooth and nail on any bill or action proposed by The Trump administration.
  • If the President and congress fail to act we are looking at a potential U.S. government shut down without a budget on April 28. Hundreds of thousands furloughed employees, closed national parks, lack of government services and you better hurry up and get your tax return in because if the government shuts down so does your refund.

So, with all this going on do you still believe the economic data will justify a rate hike anytime soon?”

At 11am PDT today, Gold is trading at $1,273 per ounce, up $1 on average volume.

SILVER

Silver reached a high this morning of $18.44 per ounce before seeing some light profit taking. Silver needs to stay above $18.10 for the balance of the week to regain its bullish sentiment with professional traders. At 11am PDT today, Silver is trading at $18.27 per ounce, unchanged from yesterday, with normal volume.

Posted in Daily Market Report By Barry Stuppler

GOLD

Today Gold opened higher in Asia, the Middle East, and Europe on geopolitical concerns. Investors are adding to their holding of safe haven assets (Gold), due to increasing tensions in Syria and North Korea, and worries about the upcoming French elections. Gold hit a high of $1,273.40 (highest level in 2017) before seeing some light profit taking. At 11am PDT today, Gold is up $20, trading at $1,272 per ounce.

SILVER

Silver followed Gold higher this morning, breaking back above the key $18 per ounce resistance/support level. Silver reached a high of $18.33 before short-sellers appeared. At 11am PDT today, Silver is up $0.37, trading at $18.27 per ounce on excellent volume.

Posted in Daily Market Report By Barry Stuppler

GOLD

This morning Gold hit a low of $1,247.20 before finding bargain buyers. The Gold price quickly bounced back above the key $1,250 support level and now is trading around $1,254 per ounce. At 11am PDT today, Gold is down $5 per ounce, trading at $1,252 on average volume.

SILVER

Silver opened sharply lower in Asian and European markets at $17.73 per ounce. Silver then hit $18.04 per ounce before breaking below the $18 support level. At 11am PDT today, Silver is trading at $17.90 per ounce, down $0.16 on normal volume.

Posted in Daily Market Report By Barry Stuppler

Daily Market Report 4/7/17

4/7/17 11:10 AM

GOLD

After the news of the U.S. Tomahawk missile attack on Syria was released last night, Gold quickly rallied $17 per ounce. Then as more information was released the increase dropped to $12. This morning the U.S. Labor Department stated that 89,000 new jobs were added in March, diving the unemployment rate to 4.5%. Gold sold off more on that news. At 11am PDT today, Gold is trading at $1,257 per ounce, up $5 on active volume.

SILVER

Today Silver was highly volatile, with a $0.61 per ounce high/low trading range. Silver hit a high of $18.49 last night and then a low of $17.88 this morning. There was lots of bargain buying when Silver traded below the $18 per ounce support level. At 11am PDT today, Silver is down $0.20, trading at $18.06 per ounce on heavy volume.

Posted in Daily Market Report By Barry Stuppler

Daily Market Report 4/6/17

4/6/17 11:01 AM

GOLD

Gold has traded in a narrow $10 high/low range today, mostly above the key $1,250 per ounce support level. Gold is in a consolidation mode, firmly establishing the $1,250 per ounce level as a base. This is very good for the next leg higher, which I believe will test the $1,300 level by month's end. At 11am PDT today, Gold is trading at $1,252 per ounce, up $4 on average volume.

SILVER

Silver is following Gold’s lead, firmly building a base above the $18 support level. Physical trading volume around the globe is surprisingly strong. At 11am PDT today, Silver is up $0.05, trading at $18.26 per ounce on good volume.

Posted in Daily Market Report By Barry Stuppler

Daily Market Report 4/5/17

4/5/17 11:05 AM

GOLD

A strong U.S. Dollar and an increase in the 10-year Bond price put Gold on the defensive from market's open. Gold reached a low of $1,244 before bargain buyers appeared. It’s important that Gold close above $1,250 by Friday. At 11am PDT today, Gold is trading at $1,248 per ounce, down $9 on good volume.

SILVER

Today marks the eighth day in a row that Silver has closed above the key $18 per ounce level. Silver seems to find buyers every time it approaches the $18 support level. At 11am PDT today, Silver is down $0.11, trading at $18.21 per ounce on good volume.

Posted in Daily Market Report By Barry Stuppler

Daily Market Report 4/4/17

4/4/17 11:01 AM

GOLD

The Gold rally continues with Gold hitting a high of $1,261 before seeing some light profit taking. Demand remains strong on physical, futures, options and equities markets. Look for a move to the $1,265 level soon, on the way to the $1,300 area by the month's end. At 11am PDT today, Gold is trading at $1,257 per ounce, up $4 on good volume.

SILVER

Silver continues to increase at a faster pace than Gold. Silver reached a high today of $18.43 per ounce on good volume. At 11am PDT today, Silver is up $0.10 per ounce, trading at $18.32 on good volume.

Posted in Daily Market Report By Barry Stuppler

Daily Market Report 4/3/17

4/3/17 11:03 AM

GOLD

This morning Gold is trading in a narrow range between $1,244 and $1,250 per ounce in Asian and European markets. I believe Gold will move back above the key $1,250 level during this week. At 11am PDT today, Gold is up $4, trading at $1,253 per ounce.

SILVER

Silver sold off this morning in Asian and European markets, reaching a low of $18.06 per ounce before bargain buyers appeared. Those buyers drove the price back up to the $18.20 area very quickly. At 11am PDT today, Silver is down $.01, trading at $18.22 per ounce.

Posted in Daily Market Report By Barry Stuppler

Daily Market Report 3/31/17

3/31/17 11:04 AM

GOLD

There was Asian selling in the Gold market overnight, driving the price down to $1,239 per ounce. When European and U.S. Gold markets opened, the Gold price started moving higher on good demand. At 11am PDT today, Gold is trading at $1,249 per ounce, up $3 on good volume.

SILVER

The Silver price continues to show excellent support over $18 per ounce. Silver hit a low of $18.03 per ounce when Gold sold off in Asia, but quickly recovered. Futures, options, and physical demand for Silver at the current price remains strong. At 11am PDT today, Silver is up $0.06 per ounce, trading at $18.23 on good volume.

Posted in Daily Market Report By Barry Stuppler

Daily Market Report 3/30/17

3/30/17 11:05 AM

GOLD

Gold has traded today above and below the $1,250 per ounce level, hitting a low of $1,244 and a high of $1,254. On a short-term basis, it’s important that Gold stay above $1,250 for four or five trading days to continue the bullish direction. At 11am PDT today, Gold is trading at $1,246 per ounce, down $7.50 on good volume.

SILVER

The Silver price is holding up better than Gold, staying firmly above the key $18 per ounce support level. Silver did test the $18 level earlier today, hitting $18.04, but quickly rallied $0.10 per ounce. At 11am PDT today, Silver is down $0.03 per ounce, trading at $18.17 on excellent volume.

Posted in Daily Market Report By Barry Stuppler
 

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Date
Dec 2002
Dec 2003
Dec 2004
Dec 2005
Spot Price
$348.10
$415.70
$437.50
517.10
Increase
+25.90%
+19.42%
+5.24%
+18.19%
Date
Dec 2006
Dec 2007
Dec 2008
Dec 2009
Spot Price
$638.00
$833.20
$878.30
$1096.50
Increase
+23.38%
+30.60%
+5.41%
+24.84%
Date
Dec 2002
Dec 2003
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Spot Price
$4.80
$5.95
$6.81
$8.82
Increase
 
+23.96%
+14.45%
+29.51%
Date
Dec 2006
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Dec 2009
Spot Price
$12.93
$14.77
$11.32
$16.48
Increase
+46.60%
+14.23%
-23.36%
+48.85%
Date
Dec 1998
Dec 2000
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Spot Price
$345.12
$598.47
$606.89
Increase
 
+73.4%
+1.4%
Date
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Spot Price
$884.49
$1104.53
$902.24
Increase
+45.7%
+24.9%
-18.4%
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