Daily Market Report

GOLD After the Gold price showed excellent strength and demand yesterday, holding above the $1,200 per ounce support level, the buyers came back today. Today we are seeing major Gold demand from bullion funds and ETF’s. The very popular SPDR Gold Shares, a physical ETF with a trading symbol of GLD, has added over 110 tonnes of Gold (3 ½...

GOLD This morning Gold again tested the very important $1,200 per ounce support level. Gold reached a low today of $1,202 before sizeable buying appeared and took the price back above $1,210 very quickly. At 11am PST today, Gold is trading at $1,210 per ounce, down $22 on heavy volume.   SILVER When the bears were able to take the...

GOLD After this year’s $200 rally, this weeks $70 selloff, and the resumption of the bullish higher trend, Gold is in a consolidation phase today. Gold traded between $1,220 and $1,235 per ounce today as fresh buying appeared. At 11am PST today, Gold is trading at $1,232 per ounce, unchanged from yesterday’s close with normal volume.   SILVER Silver continues...

GOLD Since the beginning of the year we’ve had a $200 rally from $1,060 to $1,260 per ounce, followed by a $70 profit taking selloff down to $1,190, and now the rally continues. The Gold price tested its $1,200 support level earlier this week and held, with extraordinarily high trading volume. Now, the long term upward move continues with the...

GOLD In early Asian trading this morning, Gold hit a low of $1,195.60 before sizeable buying appeared. In Europe and the U.S. the Gold buyers came back and the price rallied to $1,214 on excellent demand. This test of the key $1,200 long term support/resistance level is a major Bull/Bear fight, and I think the Bulls are winning. At 11am...

GOLD Gold tested the $1,200 support level yesterday, reaching $1,202 per ounce before holiday buying appeared. This morning, Gold broke through the $1,200 resistance level; reaching a low of $1,190 after Goldman Sachs told its clients to sell Gold. After the selloff, the buyers came rushing in to take the price above $1,210 per ounce. At 11am PST today, Gold...

GOLD Yesterday, the CME exchange trading volume for April 100-ounce Gold contract (the most active month) was 366,882 contracts (36,688,200 ounces). This is the highest amount of Gold traded in one session on the CME since August of 2013. This happened on the same day it was stated that S&P equities have lost $2 trillion in value since the beginning...

GOLD Gold broke above the key $1,200 long term resistance level and the big money rushed in. Gold reached a high today of $1,262 on massive exchange trading volume of over 300,000 hundred-ounce April Gold contracts on the CME. At 11am PST today, Gold is trading at $1,248 per ounce, up $56 per ounce on massive volume.   SILVER Silver...

GOLD The Gold short sellers were able to drive the price down to $1,181 in Asian trading this morning. However, at that price fresh buying appeared and drove the price back above $1,190 again. It is very healthy for Gold to consolidate its recent gain while building a base above $1,180 for its next move above $1,200 per ounce. At...

GOLD Gold unsuccessfully tested the important $1,200 per ounce resistance level again, reaching $1,199.20 per ounce. The weaker worldwide equity markets continue to drive fresh buyers into the precious metal markets. At 11am PST today, Gold is down $1, trading at $1,195 per ounce on excellent volume.   SILVER Silver reached a high this morning of $15.47 before seeing some...