Daily Market Report

GOLD This morning Gold continues to move higher from last Thursday’s lows. Gold appears to have bottomed out last Thursday, the first trading day after the Fed raised interest rates. Demand and trading volume is growing as Gold hit a high today of $1,082 per ounce. At 11am PDT today, Gold is up $13, trading at $1,080 per ounce on...

GOLD Gold rallied this morning as the U.S. Dollar weakened in overnight trading. I suspect that Gold rebounded as traders covered their positions going into the weekend. It’s a positive sign to see Gold correct, but I’d like to see it test the $1,080 level hopefully in the not to distant future, as that has been the short-term resistance this...

GOLD After Janet Yellen and the Fed’s news yesterday, the price of Gold held well. It wasn’t until the New York market opened today that we saw some sellers come into the market. At that point traders came in and we started seeing support at the $1,050 level, clearing out the weak hands. I am looking into what may be...

GOLD Gold trading remained relatively stable today as the Fed announced a 0.25%-0.50% interest rate increase; the first rate increase since June 2006. The Fed also said they will implement gradual increases over time going forward. Gold traded in the $1,061 - $1,077 range within minutes of the Fed news release. This range is not substantial as the Fed news...

GOLD Gold remained steady most of the day in anticipation of this week’s Federal Reserve announcement of an interest rate increase. The Federal Open Market Committee (FOMC) is expected to make the announcement tomorrow, following their two-day policy meeting that starts later today. Gold prices in India swung to a discount for the first time in a month yesterday, as...

GOLD Gold fell today as the U.S. Dollar moved higher versus the Euro in anticipation of the Federal Reserve policy meeting this week to announce the first interest rate increase in nearly a decade. At 11am PDT today, Gold is trading at $1,065, down $10 per ounce on excellent volume.   SILVER Silver is making new seven-year lows, hitting $13.63...

GOLD The bears came into the precious metal markets in Asia this morning. They were able to drive the Gold price down to $1,061.70 per ounce before sizeable buying appeared, taking the price back over $1,070 per ounce. At 11am PDT today, Gold is trading at $1,077 per ounce, up $4 on excellent volume.   SILVER This morning the sellers...

GOLD Gold traded today in a $7 low/high range ($1,069 to $1,076 per ounce) on light volume. Right now Gold appears to be treading water, waiting for a direction. The support and resistance levels are $1,060 and $1,085 per ounce, Stay tuned for a break upward/downward before the end of the year. At 11am PDT today, Gold is trading at...

GOLD Gold continues to see bargain buying at the $1,070 per ounce level. It appears that the Gold price is treading water between $1,070 and $1,085 per ounce, waiting for a firm direction. A few positive signs are that the Gold equities market has been firm and this is happening in the face of falling crude oil prices. The U.S...

GOLD A stronger U.S. Dollar, combined with weaker crude oil prices, is keeping Gold in a tight trading range from $1,067 to $1,079 per ounce. Fresh buying did appear when Gold was trading near its low price this morning. At 11am PDT today, Gold is trading at $1,073.50 per ounce, down $1.50 on average volume.   SILVER Silver dropped to...