Daily Market Report

GOLD George Soros, who once called Gold “the ultimate bubble,” has resumed buying the precious metal after a three-year hiatus. On Monday, the billionaire investor disclosed that in the first quarter of 2016 he made a $123.5 million investment in Gold. At 11am PDT today, Gold is trading at $1,275, up $2 per ounce on normal volume. SILVER Silver continues...

GOLD Gold opened $5 higher this morning in Asian trading upon news of slowing Chinese economic growth and a small selloff in Asian stock markets. At 11am PDT, Gold is down $1 per ounce, trading at $1,273 on average volume. SILVER Silver reached a low of $17.04 (above the key $17 per ounce support level). At that point, bargain buying...

GOLD After testing support by reaching a low of $1,265 per ounce, bargain buying appeared. I would like to see Gold end the week above the $1,260 per ounce level, staying in its recent trading range. At 11am PDT today, Gold is up $2 per ounce, trading at $1,273 on weekend type volume. SILVER Silver is trading above and below...

GOLD For most of today’s trading session, Gold was in the $1,268 to $1,275 range. The consolidating continues as Gold builds a base for the next leg higher (above $1,300) within the next couple weeks. At 11am PDT today, Gold is trading at $1,270 per ounce, down $5 on average volume. SILVER This morning Silver tested and held above the...

GOLD Gold found some fresh buying this morning in the Middle East and Europe, and rolled into the U.S. commodity markets with a $6 increase in price. Buying continued above $1,270 and reached $1,279 before some light profit taking was seen. At 11am PDT today, Gold is trading at $1,275, up $10 on good volume. SILVER It appears that the...

GOLD We are now in the second week of Gold price consolidation, as it trades between $1,250 and $1,300 per ounce. I believe we will see Gold move up gradually the remainder of this week, with one more possible test of the $1,250 support level. Then, next week, with India’s wedding festival season starting, both the Gold demand and price...

GOLD A short term rally in the U.S. Dollar has negatively affected both Gold and the commodity markets this morning. Gold demand for physical investment products remains strong. At 11am PDT today, Gold is trading at $1,264 per ounce, down $27 on average volume.   SILVER Silver is testing its $17 per ounce support level today. After seeing a 30...

GOLD Gold rallied $20 this morning based on some bullish factors: Starting June 1, China’s customs and central bank will allow companies that have done frequent Gold transactions crossing the border to apply for a single permit that will allow up to 12 Gold shipments per year. This should increase Chinese Gold demand. In April, the U.S. economy added 160,000...

GOLD Today is the third day in a row that the Gold price is consolidating between $1,270 to $1290 per ounce. I believe Gold is building a firm base before breaking above the key $1,300 per ounce resistance level. At 11am PDT today, Gold is down $2, trading at $1,272 on good volume. SILVER Silver is finding heavy futures and...

GOLD Gold is continuing its price consolidation today, as the price trades in the $1,270 to $1,290 per ounce price range. I believe Gold is building a firm base before breaking above the key $1,300 per ounce resistance level later this month. At 11am PDT today, Gold is down $14, trading at $1,274 on good volume.   SILVER The Silver...