Daily Market Report

GOLD After yesterday’s Federal Reserve announcement, Gold initially headed lower, reaching $1,320 per ounce. When it was made clear that the Fed was dovish on the economy due to a poor durable goods number, Gold started to rally. There is some optimism now that the Fed could raise interest rates in September. It is more probable, however, that December will...

GOLD This morning Gold opened higher, reaching a high of $1,329 per ounce. After the Federal Reserve press release announced no change in interest rates, Gold dropped $4 in active trading. At 11:10am PDT today, Gold is trading at $1,322 per ounce, up $2 on active volume. SILVER Silver finally broke back above the key $20.00 resistance level, reaching $20.14...

GOLD Gold is trading in a narrow $10 per ounce range today, awaiting fresh news from this week’s Federal Reserve meetings. In Asian trading last night, Gold found excellent support at $1,314 per ounce. At 11am PDT today, Gold is trading at $1,320 per ounce, unchanged from yesterday on average volume. SILVER Silver is showing better price support than Gold...

GOLD This morning, Gold is trading with light volume and reached a low of $1,312.30 per ounce. Gold is trading at a four week low while waiting for short term direction after the Federal Reserve meeting and statement later this week. At 11am PDT today, Gold is trading at $1,320 per ounce, down $4 on light volume. SILVER When Silver...

GOLD Gold moved lower this morning on light trading volume. There was excellent support above $1,320 per ounce with a lack of sellers. At 11am PDT today, Gold is trading at $1,324 per ounce, down $7 on light volume. SILVER Silver tested the $20 per ounce resistance level this morning, reaching a high of $19.97 per ounce. At that point...

GOLD Today, Gold moved higher on excellent demand, reaching its recent trading range above the $1,330 per ounce level. At 11am PDT today, Gold is trading at $1,331 per ounce, up $12 on excellent volume. SILVER Silver followed Gold higher today, hitting a high of $19.81 per ounce. Physical and futures contract demand remains strong. At 11am PDT today, Silver...

GOLD A strong U.S. Dollar and positive U.S. economic housing news drove the spot Gold price down to $1,313 per ounce this morning. Once Gold broke below the recent $1,330 support level, trading volume picked up and fresh bargain buyers appeared. At 11am PDT today, Gold is trading at $1,319 per ounce, down $13 on active volume. SILVER Silver declined...

GOLD Gold continues to trade in a very tight range. Today’s high/low trading range was only $9 per ounce, from $1,334 to $1,325 per ounce. Gold’s consolidation is very healthy after the 25% increase in the first half of 2016. I am still looking for a break out of this trading range within the next month and a move towards...

GOLD With little to no news affecting the precious metal markets, Gold is trading in a narrow $12 high/low range from $1,335 to $1,323 today. Gold continues to consolidate its 25% increase this year, while building an excellent base for the next leg higher, $1,400 per ounce. At 11am PDT today, Gold is trading at $1,329 per ounce, up $1...

GOLD The Bank of England (BoE) was expected to lower its interest rate by ¼ of percent, but decided against it and the Gold market sold off, reaching a low of $1,322 per ounce. Again, like in the recent past, Gold found fresh bargain buyers driving up the price. At 11am PDT today, Gold is trading at $1,328 per ounce...