Daily Market Report

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...

GOLD We are seeing Gold continue to develop a base after the Fed’s meeting last week. After correcting to $1,126 per ounce this morning, the price quickly rose over the $1,130 level. This shows that the margin traders are clearing out at this level, which is good to see as the U.S. Dollar is slightly up in trading today as...

GOLD It is normal to see trading lighten as we enter the week before Christmas and the Wall Street professionals begin to take time off. For this reason, it is nice to see Gold up slightly today, though the activity is at a lower volume than normal. At 11am PST today, Gold is trading at $1,138, up $3 on lower...

GOLD The Dow is down today and losing some of its momentum towards reaching an all-time high of 20,000 in stock trading. The metals markets, however, are starting to regain some of the pull back from yesterday. This is typical of Friday markets, as traders need to cover their positions before the weekend begins. It wouldn’t surprise me if we...