Daily Market Report

GOLD The news of a weak March U.S. housing market, with the Commerce Department reporting that new homes sales fell 14.5%, helped to support the Gold price today. With Gold trading in the low $1,280’s recently, I am seeing an increase in short covering and bargain buying. At 11am PDT today, Gold is trading at $1,284.50 per ounce, up $2.50...

GOLD Gold extended losses for a fourth straight day as outflows from physical Gold ETF, SPDR Gold Trust, (GLD) reached 792.14 tonnes late Monday, the lowest level since January. Gold wasn’t able to hold the $1,280 support level early this morning, reaching a low of $1,276 per ounce. A 480,000 ounce sell order hit the market this morning, taking the...

GOLD Today, due to the sharp outflows from the world’s biggest bullion-backed exchange-traded fund (ETF) and a stronger dollar Gold, could not rally back above $1,300 per ounce. The Gold stockpile at GLD dropped to 795.14 tonnes, the lowest level since January. After an overnight attempt to rally, Gold has traded down, reaching a low of $1,280 per ounce. At...

GOLD There was a bull/bear war in the Gold trading markets today, between the $1,293 and $1,304 per ounce area. Right now the bears have been able to drive the value below the important $1,300 resistance level. At 11am PDT today, Gold is down $7 per ounce, trading at $1,295.50 per ounce on normal volume.   SILVER Silver traded today...

GOLD In early trading in Asian markets Gold showed excellent support in the important $1,300 per ounce area. Evidences of China slowdown could have been part of the reason that Gold dropped $26 per ounce yesterday. China reported that the March M2 growth has slowed to 12.1%, below the central bank’s target of 13%. Gold could easily move higher if...

GOLD After Gold reached $1,331 per ounce, on mounting tensions over the weekend in Ukraine yesterday, today Gold tested its $1,300 per ounce resistance level. Technical traders sold Gold down to $1,285 this morning, before rallying back to above $1,300 per ounce. At 11am PDT today, Gold is down $26 per ounce, trading at $1,301.50 on heavy volume.   SILVER...

GOLD Today, Gold jumped to a three-week high, reaching $1,331 per ounce, as mounting tensions over the weekend in Ukraine resulted in increasing investor’s concerns. This boosted Gold’s appeal as a safe haven asset. At 11am PDT today, Gold is trading at $1,327 per ounce, up $9 per ounce on average volume.   SILVER Considering today’s $9 Gold rally, the...

GOLD In the face of a dramatically falling U.S. stock market (the DJIA is down over 400 points) in the past two days, Gold has shown renewed demand. Gold has been in a $10 range for most of the trading day between $1,314 and $1,324 per ounce. At 11am PDT today, Gold is unchanged from yesterday at $1,318 per ounce...

GOLD In the Federal Reserve minutes released on Wednesday April 9th, the Fed played down forecasts by some of its own policy makers that interest rates might increase faster than they previously predicted. “Several participants noted that the increase in the median projection overstated the shift in the projections,” according to minutes of the March 18-19 meeting of the Federal...

GOLD Gold tested the $1,300 support level this morning, reaching $1,301 per ounce and holding. For the most part of today’s trading, Gold has been range bound from $1,305 to $1310 per ounce awaiting today’s Federal Reserve announcement. Demand for Gold Driven by Ukraine and India news Demand for Gold has increased substantially as Russia has heated up the conflict...