Daily Market Report

GOLD It’s been an exciting day today with the value of the U.S. Dollar dropping almost 1%, a sizeable increase in the Gold ETF (Paper Gold) mutual funds, and concerns about Trump’s policy statements on currency devaluations. Gold immediately broke above the $1,200 resistance level and kept on going, reaching $1,215 per ounce, before seeing some light profit taking. At...

GOLD As we approach the end of the first month of trading in 2017, Gold is continuing to test the $1200 level, already having climbed over 3% this year. It appears today is the last day that Future traders can get out of February Gold contracts and into April’s. This means we are seeing activity from long term investors as...

GOLD As the U.S. Dollar strengthened earlier today, Gold reached a low of $1,181 per ounce. That was a very attractive price for traders and Asian and Middle Eastern buyers. I believe what we saw yesterday and today was the correction of the 2017 Gold rally. I look for price consolidation and a quick rally back to the $1,200 level...

GOLD As the U.S. Stock Markets and Dollar continue to move higher, Gold is on the defensive. Gold hit a low of $1,184.50 this morning before bargain buyers and professional traders became aggressive. This is the second test of the important $1,200 per ounce resistance/support level, and I believe it will move above it shortly. At 11am PST today, Gold...

GOLD With the Dow-Jones hitting a new high (over 20,000 points) and the U.S. Dollar rallying, Gold sold off, dropping below the key $1,200 level. The U.S. commodity markets showed an increase in trading volume, while Gold traded actively between $1,194 and $1,204. At 11am PST today, Gold is down $12 per ounce, trading at $1,198 with excellent volume. SILVER...

GOLD Even with the dollar up today, Gold is developing a good base over the $1,200 level, trading around the $1,210 per ounce. As we continue to see more announcements from President Trump, I expect to see more volatility in the markets, which will be good for Gold in the long term. At 11am PST Gold is trading at $1,210...

GOLD The 2017 Gold rally continues as we see a weaker U.S. Dollar trading at a six-week low. Strong Asian and Middle-Eastern demand took Gold to $1,219 per ounce in early trading. At 11am PST today, Gold is trading at $1,215 per ounce, up $10 on excellent volume. SILVER This morning Silver followed Gold’s lead, moving to a high of...

GOLD For most of the trading day, Gold has stayed above the important $1,200 support level. I really like the way Gold has traded this week, showing good volume and consolidation. I believe Gold will break out above the recent high of $1,216 and move to the $1,225 level. At 11am PST today, Gold is trading at $1,206 per ounce...

GOLD Gold did test its $1,200 per ounce support level earlier this morning, reaching a low of $1,196 before major buying kicked in. I continue to look for Gold to trade in the $1,200 to $1,224 range, building a base for the next leg higher. At 11am PST today, Gold is trading at $1,202 per ounce, down $9 on good...

GOLD The Gold price showed excellent support today, trading between $1,210 and $1,218 per ounce on good volume. I expect to see Gold test the $1,200 resistance level this week and hold. It would be healthy for the market to stay in the $1,200 to $1,225 this week, building a base for the next leg higher. At 11am PST today...