Daily Market Report

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...

GOLD This morning the U.S. Dollar moved higher versus other currencies based on Friday’s upbeat U.S. jobs data. The report reinforced expectations that the Federal Reserve will raise interest rates next week. The Dollar rally caused Gold to drop $10 per ounce. At 11am PDT today, Gold is trading at $1,075 per ounce, down $9 on normal volume.   SILVER...

GOLD This morning the European Central Bank cut its deposit rate to -0.30 percent, this rate determines the cost of borrowing for banks at the ECB’s weekly auction. This news, plus the U.S. economy adding 211,000 jobs in November and keeping the unemployment rate steady at 5%, caused precious metals to rally sharply. After Gold reached a six year low...

GOLD Gold reached another new six year low this morning of $1,046 per ounce. At that price I saw sizeable bargain buying come into the Gold market, which drove the price up $15. The bears still have control of the market, and we need a rally above $1,100 to change the sentiment. At 11am PDT today, Gold is trading at...

GOLD Gold hit a new six year low this morning of $1,050.80 per ounce. The last time Gold was trading at that price was October 2009 and it then quickly rallied to $1,920 within two years. Most of the weakness in the Gold price is a result of a strong U.S. Dollar, which reached $1.04 to the Euro this morning...

GOLD Gold moved higher this morning, reaching a high of $1,075 per ounce in Asian and European trading. There was selling at this morning’s high and the price quickly moved lower. The U.S. Dollar rally, a bearish factor for Gold, has slowed down, which could add some support for the price. I think Gold still needs to have a final...

GOLD This morning the U.S. Dollar approaches a new 10-year high versus the Euro. This, combined with the current bear trend has caused the Gold price to hit $1,053 per ounce this morning. At 11am PDT today, Gold is trading at $1,165 per ounce, down $6 from last Wednesday, but up $9 from European/Asian trading over the holiday.   SILVER...