Daily Market Report

GOLD In over-night trading Gold was treading water, awaiting today’s announcement from the Federal Reserve on interest rates. It’s 11am and the Federal Reserve just confirmed it was raising interesting rates by ¼%, to between ¾% to 1%. Initially, Gold rallied $10 and is now awaiting the Yellen press conference. At 11am PST today, Gold is trading at $1,210 per...

GOLD Gold is trading in a tight $7 high/low range, awaiting the official announcement from the Federal Reserve regarding higher interest rates. Thus far, today’s high has been $1,207 and the low $1,200 per ounce, continuing to be above the key $1,200 support level. At 11am PST today, Gold is down $1, trading at $1,203 per ounce. SILVER This morning...

GOLD This morning Gold reached a high of $1,211 in Asian trading. Gold has stayed above the key $1,200 support level today, which is a good indicator that the recent bear trend is over. At 11am PST today, Gold is trading at $1,204 per ounce, up $1 on excellent volume. SILVER This morning, Silver has trade between $16.93 and $17.17...

GOLD During the past 24 hours, Gold has traded above and below the key $1,200 per ounce level. There was active Gold trading in Asian, Middle Eastern, and European markets as bargain buyers appeared. At 11am PST today, Gold is trading at $1,203 per ounce, down $2 on excellent volume for a Friday. SILVER Silver hit a low of $16.83...

GOLD This morning Gold hit a low of $1,201.40 and quickly bounced back $5 on heavy buying. Gold has now declined for eight straight days from $1,253 level. Gold is now showing increasing physical, futures and equity demand at the key $1,200 per ounce support level. If Gold can hold this level for the next couple of trading days, I...

GOLD Gold breaking below the 100-day moving average of $1,218 per ounce this morning causes me to think the price could test the $1,200 support level. I believe $1,200 level will hold, and any test of that level will be very brief and probably happen in Asian or European markets. With all of Gold’s bullish long-term fundamentals looking better and...

GOLD This morning it was announced that the January 2017 U.S. trade deficit jumped to a five-year high on imports. This announcement is long term bullish for precious metals, as it weakens the value of the U.S. Dollar. Right now, however, we are ending a short-term correction. At 11am PST today, Gold is trading at $1,218 per ounce, down $10...

GOLD This morning Gold has traded between $1,225 and $1,237 per ounce, showing excellent support while building a base above Friday’s close. At 11am PST today, Gold is trading at $1,228 per ounce, up $2 on heavy volume. SILVER Today we saw Silver try to move above the $18 per ounce resistance level, reaching a high of $17.97 in early...

GOLD Fed Chairwoman Janet Yellen gave a clear indication that interest rates would likely increase this month. This, and equity markets around the world increasing, caused Gold to hit $1,223 per ounce. The price of Gold is trading above the key 100-day moving average of $1,218 per ounce, and above the $1,220 area, where Wall Street traders last purchased a...

GOLD Gold broke below the $1,250 per ounce support level this morning based on three contributing factors: The U.S. Dollar strengthened to a 2017 high versus the Euro and other currency It’s highly likely that the Federal Reserve will raise interest rates this month A major seller in the Silver market, causing it to break $18, helped Gold’s decline At...