Daily Market Report

GOLD Gold rallied to a 4-week high today on a lower U.S. Dollar, some new market uncertainty resulting from the release of Wednesday’s Federal Reserve (FOMC) minutes, and the U.S. ADP national employment report showing an increase of 153,000 jobs which was a bit lower than expected. At 11am PST Gold is trading at $1,182, up $17. SILVER Silver continued...

GOLD Gold continues to show excellent support above the $1,150 per ounce support level. Its next step is to test the $1,200 per ounce resistance level later this month. The professional traders are now playing Gold from a bullish trade and they are buying on dips. At 11am PST today, Gold is trading at $1,165 per ounce, up $4 on...

GOLD Today it appears that the precious metal markets are doing very well compared to the other commodities, as the U.S. Dollar strengthens in the first trading day of the year. It appears that with the Dollar up about 0.4%, Gold should be down about $5 today. However, with the strong trading today, the world’s default currency (Gold) is starting...

GOLD After reaching a high last night of $1,164 per ounce, year-end selling hit the Gold market today, but Gold held the important $1,150 per ounce level. Next year should be a good year for precious metal owners. At 11am PST today, Gold is trading at $1,152 per ounce, down $4 on normal volume. SILVER Disappointingly, Silver didn’t hold the...

GOLD Gold made a nice move today, breaking above the $1,150 per ounce level for the first time in two weeks. The bullish trading indicators are good, as futures, equities, and physical demand continue to increase. 2017 continues to look brighter. At 11am PST today, Gold is trading at $1,156 per ounce, up $15 on excellent volume. SILVER This morning...

GOLD Gold continues to stay in a narrow $8 per ounce high/low range. I believe this is very positive for Gold, as it shows that any year-end tax selling hitting the market is very light. At 11am PST today, Gold is trading at $1,141 per ounce, up $3 on light trading. SILVER The professional traders are active in the Silver...

GOLD Gold tested the $1,150 resistance level in Asia this morning, reaching $1,149.60 per ounce before finding heavy selling. Right now, Gold is finding support above the $1,130 area. At 11am PST today, Gold is up $6 per ounce, trading at $1,138 on good volume. SILVER Silver can’t find buyers above the important $16 per ounce resistance level. At 11am...

GOLD Gold has moved up slightly this morning on news of banking problems in the European common market. During the next three days, there will be limited trading in the precious metal markets around the globe. At 11am PST today, Gold is trading at $1,132 per ounce, up $3 on low volume. SILVER After not holding above the key $16.00...

GOLD Disappointingly, Gold continues to trade in a tight trading range between $1,128 and $1,134 per ounce. Based on the strength of the U.S. Dollar, and precious metal trading it is likely we will see another test of the recent lows before year end. At 11am PDT today, Gold is trading at $1,129 per ounce, down $4 per ounce on...

GOLD The strength of the U.S. Dollar along with increasing interest rates continue to keep Gold on the defensive. Gold is likely to stay defensive as we approach the end of the year and see year-end tax selling. $1,100 per ounce is a major support/buying level for Gold if we see any year-end sell off. Gold is trading in a...