Daily Market Report

GOLD As I have stated numerous times, $1,350 per ounce is the key level for Gold. Gold reached a high today of $1,358 per ounce, before seeing some light profit taking. At 11am PDT today, Gold is up $8.50 per ounce, trading at $1,350.50 on average volume.   SILVER I feel like a broken record, Silver again attempted to break...

GOLD Gold continues to consolidate in a tight $9 per ounce trading range, from $1,335 to $1344 per ounce. After Gold’s 25% increase since the beginning of the year, it is very bullish for the price to be in a consolidation phase during the low volume summer months. At 11am PDT today, Gold is trading at $1,342 per ounce, up...

GOLD Both Gold and Silver rallied early in the day on weak U.S. economic data. On that news, Gold broke above the $1,350 level, but weekend selling drove the price back to $1,334. At 11am PDT today Gold is trading at $1,339, down $6 per ounce on good volume. SILVER Silver traded above $20 per ounce this morning on the...

GOLD Gold briefly broke above the important $1,350 per ounce resistance level this morning on a weaker Dollar. However, when the Dollar rallied, the Gold price dropped below $1,350, reaching $1,340 before finding sizeable demand. At 11am PDT today, Gold is trading at $1,345 per ounce, unchanged from yesterday on average volume. SILVER Silver tested the very important $20 level...

GOLD Based on a weaker U.S. Dollar and the anticipation of some weak economic news in the next few days, Gold rallied this morning. Gold reached a high of $1,357 before seeing some short term profit taking. At 11am PDT today Gold is trading at $1,345 per ounce, up $4 on good volume. SILVER Silver finally moved back above the...

GOLD Gold reached its recent $1,330 per ounce support level in Asian trading this morning. At that price fresh buying appeared, quickly rallying the price up $8 to $10 per ounce. At 11am PDT today, Gold is trading at $1,341 per ounce, up $5 on excellent volume. SILVER Silver is trading actively between $19.58 and $19.89 per ounce today. Demand...

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...