Daily Market Report

GOLD Gold has been trading in a fairly narrow range between $1,332 to $1,339 per ounce after last Friday’s jobs numbers. Volume is above average, but I’m happy to see some stability after the dollar was affected going into the week. With all the growth Gold has experienced this year, it is healthy to see a pull back from time...

GOLD This morning, we found out that the U.S. non-farm payrolls increased dramatically to 255,000 jobs in July. This news caused the U.S. Dollar to rally sharply and for Gold to sell-off. I believe we will see Gold move back above the $1,350 level early next week. At 11am PDT today, Gold is trading at $1,340 per ounce, down $21...

GOLD This morning there was an interest rate cut by the Bank of England (BoE) from 0.5% to 0.25%. This was the first cut in seven years and a direct result of the economic crisis caused by BREXIT. This move by the BoE reaffirms Gold as the go-to asset in times of economic crisis, and the Gold price reacted positively...

GOLD Today Gold is holding in a narrow $12 High/Low range, from $1,366 to $1,354 per ounce. The Gold price needs this consolidation above the key $1,350 level, to build a nice base for its move to the $1,400 resistance level later this month. At 11am PDT today, Gold is trading at $1,358 per ounce, down $6 on average volume...

GOLD For the past six trading days in a row the Gold price has increased. During the same six days, the U.S. equity market has decreased. The start of a trend?? Today, the Japanese central bank announced a new fiscal stimulus package of $276 billion. This decision by the Japanese government is adding more quantitative easing to the world’s economies...

GOLD This morning Gold has traded above and below the key $1,350 support/resistance level. Demand continues to be strong for both physical Gold and futures contracts. At 11am PDT today, Gold is trading at $1,353 per ounce, unchanged from Friday on good volume. SILVER Silver reached a low of $20.28 this morning. At that price, major buying hit the Asian...

GOLD Yesterday’s rally continues with Gold briefly moving back above the key $1,350 per ounce level. There was excellent demand in Asian markets this morning. At 11am PDT today, Gold is trading at $1,353, up $18 per ounce on excellent volume. SILVER Silver tested the $20 support level this morning, reaching $19.95 per ounce. At that point, bargain buying appeared...

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...