Daily Market Report

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...

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...