Daily Market Report

GOLD A 20-ton increase in Gold holdings at the ETF (GLD) depository, combined with a weaker U.S. Dollar, caused Gold to make its second attempt at breaking the $1,300 per ounce resistance barrier. Gold reached a high today of $1,302 before sellers drove the price down to major support of $1,282 per ounce. Remember, the third attempt to break a...

GOLD Gold had its 2nd attempt at breaking above the important $1,300 per ounce level. In early European trading Gold reached a high of $1,304 based primarily on a weaker U.S. Dollar. Then, trading volume picked up and Gold sold off, moving back to $1,290 before finding sizeable buying. At 11am PDT today, Gold is trading at $1,292 per ounce...

GOLD Yesterday the Commerce Department announced that the U. S. economy expanded at the slowest pace in two years. This news clearly confirms that interest rates aren’t going up and Gold remains very bullish. With Gold breaking back above the key $1,250 per ounce resistance level on Wednesday, many professional traders became optimistic. Gold reached $1,296 this morning, a new...

GOLD Gold quickly moved above the key $1,250 per ounce price level this morning and kept on going. Many professional traders went long on Gold after firmly breaking above the $1,250 resistance level, which took the spot price of Gold to $1,266 very quickly. At 11am PDT today, Gold is up $19 per ounce, trading at $1,264 on excellent volume...

GOLD The bulls came back to the Gold market this morning as the price moved up to $1,251.20 per ounce in Asian markets. Moving back above the key $1,250 resistance/support level is important and hopefully it will finally stay there. U.S. Federal Reserve meetings end today and they will release a statement around 11am PDT today. That statement should show...

GOLD Gold continues to consolidate in the $1,230 to $1,245 per ounce price level. The strength of the Silver price and speculation about the Federal Reserve not raising interest rates has supported the price. I believe Gold will make another attempt to break the $1,250 per ounce level by Friday. At 11am PDT today, Gold is up $3, trading at...

GOLD Gold is moving higher today, as the U.S. Dollar weakens versus the Euro and Yen. Traders are optimistic about the Federal Reserve statement due out later this week. At 11am PDT today, Gold is trading at $1,239 per ounce, up $9 on average volume.   SILVER The sellers took the price of Silver down to $16.80 in early Asian...

GOLD Based on the strength of the U.S. Dollar and traders selling their futures positions ahead of the weekend, Gold hit a low of $1,227 per ounce today on light volume. Gold continues to trade in the $1,210 to $1,250 range as its recent breakout above $1,250 per ounce was not sustained. Consolidation of the Gold price is healthy after...

GOLD Gold reached $1,243 in early Asian trading, then rallied up to $1,270 as the bulls took control of the Gold/Silver markets in late trading. The $1,250 per ounce level continues to be a bull/bear war for Gold. With the recent strength in the Silver price, I really need to see Gold break above the $1,265 level and stay there...

GOLD Gold tested the $1,250 per ounce support level this morning, reaching $1,246, and quickly rallied back. Considering the strength of the Silver price, I would expect to see Gold move above $1,260 very soon. At 11am PDT today, Gold is trading at $1,253 per ounce, up $1 on good volume.   SILVER Silver continues to be the super star...