Daily Market Report

GOLD After Gold reached a high of $1,283 per ounce this morning (a 13 month high), short term profit taking hit the market. That selling took the price down to $1,255 before major buying came back. At 11am PST today, Gold is down $13 per ounce and trading at $1259 on high volume.   SILVER Silver found strong support this...

GOLD This morning was the second time this week that Gold briefly broke below the key $1,250 per ounce support level. In early Asian trading today, Gold reached a low of $1,245.40 per ounce. At that point, the U.S. Dollar weakened on a statement from ECB Chairman Mario Draghi, that it is unlikely the Eurozone interest rates would drop. Then...

GOLD A stronger U.S. Dollar caused Gold to test its $1,250 per ounce support level this morning. Gold reached a low of $1,243 before sizeable buying appeared, driving the price back up to $1,260 per ounce. It’s clear to me that professional traders have set their program trading software to buy Gold on any weakness. At 11am PST today, Gold...

GOLD Gold reached a high of $1,278 per ounce this morning before seeing short sellers and light profit taking. Gold showed excellent support above the $1,260 level and is still in an excellent consolidation phase. The next major factors that would have a direct effect on the Gold price are Thursday’s policy statement by the European Central Bank, followed by...

GOLD For most of today’s Gold trading in the U.S. market, Gold has stayed in the $1,260 to $1,268 per ounce range. A price consolidation at this point in the 2016 Gold rally is very healthy for the short and long term. At 11am PST today, Gold is up $3 per ounce, trading at $1,265 per ounce on normal volume...

GOLD This morning the U.S. Labor Department released the February unemployment report. There were 242,000 new jobs created in February and the unemployment rate is still at 4.9%. When this news was released, Gold was trading at $1,260 and immediately dropped to $1,250 per ounce. Then within 10 minutes, massive buying appeared and the Gold price shot back up to...

GOLD Strong demand for physical Gold for investors, ETF, and central banks continue to be some of the major driving forces in the recent Gold rally. Today, Gold broke above the $1,250 level for the 2nd time this year. The highest price Gold reached today was $1,260, before seeing some short term profit taking. It’s important that Gold stays above...

GOLD Physical and paper Gold demand continues to grow, primarily in Asia. The depositories of the popular Gold ETF, SPDR Gold Trust, with trading symbol GLD, increased 24 tonnes this week. These buyers have driven up the Gold price today, reaching $1,243 this morning. At 11am PST today, Gold is trading at $1,243, up $13 on normal volume.   SILVER...

GOLD Early this morning in Asian trading Gold reached a high of $1,249 before seeing short term profit taking. For the most part of today’s U.S. trading Gold has been in a narrow range between $1,230 to $1,235 per ounce. At 11am PST today, Gold is unchanged at $1,232 per ounce on average volume.   SILVER When Gold reached its...

GOLD This morning the bargain Gold buyers and professional traders came back. The Gold price started moving higher in Asia and continued through Europe and the U.S., reaching a high of $1,236 per ounce. Worldwide physical demand for Gold remains strong from central banks to private investors aggressively buying. At 11am PST today, Gold is trading at $1,232, up $10...