Daily Market Report

GOLD Gold reached a high of $1,278 per ounce this morning before seeing short sellers and light profit taking. Gold showed excellent support above the $1,260 level and is still in an excellent consolidation phase. The next major factors that would have a direct effect on the Gold price are Thursday’s policy statement by the European Central Bank, followed by...

GOLD For most of today’s Gold trading in the U.S. market, Gold has stayed in the $1,260 to $1,268 per ounce range. A price consolidation at this point in the 2016 Gold rally is very healthy for the short and long term. At 11am PST today, Gold is up $3 per ounce, trading at $1,265 per ounce on normal volume...

GOLD This morning the U.S. Labor Department released the February unemployment report. There were 242,000 new jobs created in February and the unemployment rate is still at 4.9%. When this news was released, Gold was trading at $1,260 and immediately dropped to $1,250 per ounce. Then within 10 minutes, massive buying appeared and the Gold price shot back up to...

GOLD Strong demand for physical Gold for investors, ETF, and central banks continue to be some of the major driving forces in the recent Gold rally. Today, Gold broke above the $1,250 level for the 2nd time this year. The highest price Gold reached today was $1,260, before seeing some short term profit taking. It’s important that Gold stays above...

GOLD Physical and paper Gold demand continues to grow, primarily in Asia. The depositories of the popular Gold ETF, SPDR Gold Trust, with trading symbol GLD, increased 24 tonnes this week. These buyers have driven up the Gold price today, reaching $1,243 this morning. At 11am PST today, Gold is trading at $1,243, up $13 on normal volume.   SILVER...

GOLD Early this morning in Asian trading Gold reached a high of $1,249 before seeing short term profit taking. For the most part of today’s U.S. trading Gold has been in a narrow range between $1,230 to $1,235 per ounce. At 11am PST today, Gold is unchanged at $1,232 per ounce on average volume.   SILVER When Gold reached its...

GOLD This morning the bargain Gold buyers and professional traders came back. The Gold price started moving higher in Asia and continued through Europe and the U.S., reaching a high of $1,236 per ounce. Worldwide physical demand for Gold remains strong from central banks to private investors aggressively buying. At 11am PST today, Gold is trading at $1,232, up $10...

GOLD Today, the Gold market traded between $1,211 and $1,240 per ounce. This is a healthy consolidation of this year’s gains. Physical and paper Gold demand continues to grow, as the price stabilizes above the important $1,200 per ounce level. At 11am PDT today, Gold is trading at $1,222 per ounce, down $12 on average volume.   SILVER Silver broke...

GOLD The Gold price appears to be firming up in in a $1,210 to $1,250 per ounce trading range. After this year’s substantial increase in the Gold price, a short consolidation phase is very healthy. At 11am PST today, Gold is trading at $1,234 per ounce, down $6 on active volume.   SILVER Silver tested its $15 per ounce support...

GOLD Gold resumed its rally today, moving above the $1,250 resistance level before seeing sellers. Demand continues to be strong and the long term direction is definitely bullish. At 11am PST today, Gold is trading at $1,240 per ounce, up $19 on good volume. I’m beginning to see a good amount of professional commodity traders changing their Gold/Silver trading strategy...