Daily Market Report

GOLD Gold quickly rallied $14 per ounce, reaching a high of $1,259, today as investors sought the protection of safe haven assets. This rally occurred shortly after the deadly bomb attacks which hit the airport and metro train station in Brussels this morning. The Gold price could not sustain the move above the key $1,250 per ounce resistance/support level, which...

GOLD Gold has traded between $1,241 and $1,256 per ounce today. The World Gold Council continues to report that physical demand from private investors, traders, mutual funds and central banks remain strong. At 11am PDT today, Gold is trading at $1,244 per ounce, down $12 on light volume.   SILVER This morning Silver has ignored the lower Gold price and...

GOLD Gold moved to $1,267 per ounce in early Asian trading. When the Gold market opened in Europe and the U.S. we saw normal weekend selling and the market moved down to the $1,250 per ounce support level. At 11am PDT today, Gold is trading at $1,256 per ounce, down $7 on average weekend volume.   SILVER This morning Silver...

GOLD After yesterday’s Federal Reserve announcement that it has cut the number of interest rate rises it forecasts for this year, sending the dollar sharply lower and Gold reached $1,260 per ounce. The Fed also lowered its projections for U.S. economic growth, which added more incentive for buying Gold and Silver. Today, Gold continues its rally, moving to a high...

GOLD Gold traded on light volume in a very narrow $9 high/low price range today ($1,227 to $1,236 per ounce) as traders waited for the statement from the U.S. Federal Reserve meeting. I didn’t expect to see any policy change from the Fed, but it’s the tone, content, and wording that analysts and traders look for. After the Fed statement...

GOLD Gold reached a two week low this morning of $1,226 per ounce before finding heavy buying. Many traders are going neutral on Gold ahead of this week’s Federal Reserve meeting. The concern is that the Fed may give an indication that they could raise U.S. interest rates in June. If there isn’t any Fed statement suggesting an interest rate...

GOLD This morning, as stock markets and the U.S. Dollar gained, the price of Gold mostly traded between $1,240 and $1,250 per ounce. Precious metal traders are looking ahead to the closely watched policy statements from the U.S. and Japanese central banks later this week. At 11am PDT today, Gold is trading at $1,241 per ounce, down $9.50 on excellent...

GOLD After Gold reached a high of $1,283 per ounce this morning (a 13 month high), short term profit taking hit the market. That selling took the price down to $1,255 before major buying came back. At 11am PST today, Gold is down $13 per ounce and trading at $1259 on high volume.   SILVER Silver found strong support this...

GOLD This morning was the second time this week that Gold briefly broke below the key $1,250 per ounce support level. In early Asian trading today, Gold reached a low of $1,245.40 per ounce. At that point, the U.S. Dollar weakened on a statement from ECB Chairman Mario Draghi, that it is unlikely the Eurozone interest rates would drop. Then...

GOLD A stronger U.S. Dollar caused Gold to test its $1,250 per ounce support level this morning. Gold reached a low of $1,243 before sizeable buying appeared, driving the price back up to $1,260 per ounce. It’s clear to me that professional traders have set their program trading software to buy Gold on any weakness. At 11am PST today, Gold...