Daily Market Report

GOLD It looks like the Fed announcement of a .25% rate increase has woken up the commodities market after a couple of days of slumber. Following the Fed announcement, the US Dollar is hitting a 14 year high and, as expected, metals have lowered. With Gold dipping below the $1,160 level, day traders had to cover their positions and sell...

GOLD The markets wait in anticipation for the Fed report to be released at 11am PST. Gold regained its losses yesterday and is back up, but on very light volume. At 11am PST today, Gold is trading at $1162 per ounce, up $4 on low volume. SILVER We are back over the $17 level again as we continue to test...

GOLD Another relatively quiet morning as Gold is slightly down on this day before the Fed releases an update about a possible rate hike. According to the market, the feeling is that the Fed should consider raising rates slightly. Typically with rate hikes we have seen in the past, Gold initially declines, but then goes higher in the long run...

GOLD It appears that today Gold hit a low in the beginning of London Trading with an opening low of $1151.10. However, throughout London’s trading as well as morning activity in the US Markets, Gold has slowly returned back over the $1160 level with some above average buying. This is good to see after the latest US Treasury 10-year note...

GOLD Today Gold is down slightly, but staying in a narrow range especially the last few days. Gold hit a low of $1,157.60 this morning during  New York trading, but is now working its way back up. This appears to be traders closing out their positions for the week. At 11am Gold is at $1,161 down $10 on above average...

GOLD It appears that Gold is in a holding pattern right now as the Day Traders watch it trading in a narrow $7 range. The activity levels appear to be normal and I’m watching for the next spark that will bring in more action. This is a very interesting market to watch as we continue to wait for the Federal...

GOLD It appears today is a relatively calm day as the market takes advantage of a slight gain in Gold as it trades in a narrow $10 range. Things should get much more interesting as we approach next week’s Federal Reserve meeting. Everyone is curious as to what the Fed will do in their first meeting since the Presidential election...

GOLD It was announced this morning that the U.S. trade deficit jumped almost 18% ($42.6 billion) in October as imports rose to the highest level in 14 months. Which is interesting to hear as the dollar rose slightly today. Today is an exciting day as Gold becomes an acceptable investment in Islamic finance for 1.5 billion Muslims. The Accounting and...

GOLD Gold sold off this morning, reaching a low of $1,157 per ounce. Bargain buyers continue to get aggressive every time Gold hits a new 9 month low. This is a classic Bull/Bear war in the Gold market around the globe. Historically, based on today’s basic fundamentals (shown in last week’s WMR), Gold always wins. At 11am PDT today, Gold...

GOLD Today, it was announced that the U.S. economy added 178,000 jobs in November. The unemployment rate fell to 4.6% from 4.9% the previous month. This news is normal for precious metals, but both Gold and Silver moved higher. At 11am PDT today, Gold is up $3, trading at $1,175 on average volume. SILVER Silver continues to find excellent price...