Daily Market Report

GOLD Today, the Gold market traded between $1,211 and $1,240 per ounce. This is a healthy consolidation of this year’s gains. Physical and paper Gold demand continues to grow, as the price stabilizes above the important $1,200 per ounce level. At 11am PDT today, Gold is trading at $1,222 per ounce, down $12 on average volume.   SILVER Silver broke...

GOLD The Gold price appears to be firming up in in a $1,210 to $1,250 per ounce trading range. After this year’s substantial increase in the Gold price, a short consolidation phase is very healthy. At 11am PST today, Gold is trading at $1,234 per ounce, down $6 on active volume.   SILVER Silver tested its $15 per ounce support...

GOLD Gold resumed its rally today, moving above the $1,250 resistance level before seeing sellers. Demand continues to be strong and the long term direction is definitely bullish. At 11am PST today, Gold is trading at $1,240 per ounce, up $19 on good volume. I’m beginning to see a good amount of professional commodity traders changing their Gold/Silver trading strategy...

GOLD After the Gold price showed excellent strength and demand yesterday, holding above the $1,200 per ounce support level, the buyers came back today. Today we are seeing major Gold demand from bullion funds and ETF’s. The very popular SPDR Gold Shares, a physical ETF with a trading symbol of GLD, has added over 110 tonnes of Gold (3 ½...

GOLD This morning Gold again tested the very important $1,200 per ounce support level. Gold reached a low today of $1,202 before sizeable buying appeared and took the price back above $1,210 very quickly. At 11am PST today, Gold is trading at $1,210 per ounce, down $22 on heavy volume.   SILVER When the bears were able to take the...

GOLD After this year’s $200 rally, this weeks $70 selloff, and the resumption of the bullish higher trend, Gold is in a consolidation phase today. Gold traded between $1,220 and $1,235 per ounce today as fresh buying appeared. At 11am PST today, Gold is trading at $1,232 per ounce, unchanged from yesterday’s close with normal volume.   SILVER Silver continues...

GOLD Since the beginning of the year we’ve had a $200 rally from $1,060 to $1,260 per ounce, followed by a $70 profit taking selloff down to $1,190, and now the rally continues. The Gold price tested its $1,200 support level earlier this week and held, with extraordinarily high trading volume. Now, the long term upward move continues with the...

GOLD In early Asian trading this morning, Gold hit a low of $1,195.60 before sizeable buying appeared. In Europe and the U.S. the Gold buyers came back and the price rallied to $1,214 on excellent demand. This test of the key $1,200 long term support/resistance level is a major Bull/Bear fight, and I think the Bulls are winning. At 11am...

GOLD Gold tested the $1,200 support level yesterday, reaching $1,202 per ounce before holiday buying appeared. This morning, Gold broke through the $1,200 resistance level; reaching a low of $1,190 after Goldman Sachs told its clients to sell Gold. After the selloff, the buyers came rushing in to take the price above $1,210 per ounce. At 11am PST today, Gold...

GOLD Yesterday, the CME exchange trading volume for April 100-ounce Gold contract (the most active month) was 366,882 contracts (36,688,200 ounces). This is the highest amount of Gold traded in one session on the CME since August of 2013. This happened on the same day it was stated that S&P equities have lost $2 trillion in value since the beginning...