Daily Market Report

GOLD Yes, today Gold has started its rally back to $1,300 by breaking out of its recent trading range. In Asian and European trading, Gold found excellent demand and quickly moved above the $1,260 level, reaching a high of $1,265 per ounce. At 11am PDT today, Gold is trading at $1,262 per ounce, up $5 on excellent volume. SILVER Silver...

GOLD Today the high/low price range for Gold is only $7 from $1,257 to $1,250 per ounce. This is the classic definition of building a base and consolidation after a sharp decline. Clearly the Gold price is waiting for some news or economic indicators to give it short term direction. At 11am PDT today, Gold is trading at $1,257 per...

GOLD Today reminds me of the movie “Ground Hog Day,” it’s the same price range, volume and base building all over again. Gold is stuck in a narrow trading range from $1,250 to $1,260, awaiting news that will cause it to breakout. At 11am PDT today, Gold is trading at $1,257 per ounce, down $1 on average volume. SILVER Silver...

GOLD With today’s report of weak economic growth in China and a strong U.S. Dollar, Gold has held above the key $1,250 level. Clearly, Gold is showing excellent support at this level in the face of negative news. At 11am PDT today, Gold is up $5, trading at $1,258 per ounce on excellent volume. SILVER Silver continues to stabilize while...

GOLD Gold continues to build a base in the $1,250 to $1,260 price range on good volume. I would expect to see a breakout of this range (hopefully higher) by Friday. Physical demand for popular Gold investment products is very strong in Asian, Middle Eastern, and European markets. At 11am PDT today, Gold is down $3, trading at $1,253 per...

GOLD Gold has traded in a narrow $10 high/low price range today, from $1,262 to $1,252 per ounce. After the recent price decline, it would be healthy for the Gold price to stabilize for a while. At 11am PDT today, Gold is trading at $1,256 per ounce, down $3 on good volume. SILVER Silver is currently trading in a short...

GOLD Asian and Mid-Eastern precious metal buyers helped stabilize the price this morning. Gold showed excellent demand today on a $5 rally. I think the worst of the recent decline is over, and the Gold price should gradually work its way back to the $1,300 price level. At 11am PDT today, Gold is trading at $1,259 per ounce, up $5...

GOLD $1,250 per ounce is an excellent support level, and today Gold briefly broke below it, reaching $1,242 before quickly rallying back. Monday will be an important day to find out how much support the Asian, Middle Eastern, and European markets will provide. At 11am PDT today, Gold is trading at $1,254, up $3 on active volume. SILVER After hitting...

GOLD Gold hit a four month low this morning of $1,250 per ounce, a major support level, before finding sizeable buying. I believe the worst is over, Gold should find support at this level and, after a short period, start moving back to the important $1,300 level. This week’s decline was focused on cleaning out the short term speculators and...

GOLD After Gold’s correction yesterday, based on U.S. manufacturing numbers, a lot of day traders cleared out their positions. We saw a strong bottom on Gold today when it hit $1,262. Now we are starting to see Gold recovering and developing a base. This is an excellent Gold buying opportunity if you are a long term buyer, as the U.S...