Daily Market Report

GOLD This morning the equity markets continue to decline as Gold moves higher, up over $35 since Friday’s close. The Gold market is testing its major $1,200 long term resistance level for the first time in eight months. A successful move above $1,200 (the Gold long term resistance level) would bring in serious institutional money. At 11am PST today, Gold...

GOLD Great week for Gold investors, with the price up $40 per ounce, and breaking above the key $1,150 per ounce resistance level. Gold reached a high this morning of $1,163 before seeing some weekend, short term, profit taking. At 11am PST today, Gold is trading at $1,158, up $3 per ounce on better than average Friday volume.   SILVER...

GOLD The rally continues with Gold reaching a high of $1,157 per ounce. Today was the first day this year that Gold broke above the important $1,150 per ounce resistance level. I would expect to see some consolidation above/below the $1,150 level before moving on to the next resistance level of $1,200 per ounce. At 11am PST today, Gold is...

GOLD This morning we saw a weaker U.S. Dollar, lower equity markets, and positive signs from China about an improvement in their economy. These are all the ingredients for a higher Gold price, and Gold is up $15 per ounce. The next resistance level is $1,150 per ounce and that should come quickly. At 11am PST today, Gold is up...

GOLD Gold has traded in a tight $8 high/low range from $1,131 to $1,123 per ounce today. Physical and futures demand is strong as the stock markets continue to decline. At 11am PST today, Gold is trading at $1,128 per ounce, up $1 on excellent volume.   SILVER Silver, like Gold, is trading in a tight range, but has shown...

GOLD This morning Gold is showing excellent gains, with good demand and the price well supported above the $1,120 per ounce level. At 11am PST today, Gold is trading at $1,127 per ounce, up $10.50 per ounce on excellent volume.   SILVER Silver reached a high this morning of $14.44 per ounce, at that point there was some short term...

GOLD Today is the last trading day for the month, and January has been a good month for Gold owners, with the price up 5.2%, a $66 increase. One of the contributing factors to the Gold rally in January was the 1,000+ point decline in the DJIA. Gold demand continues to grow as the U.S. Mint sold 124,000 ounces of...

GOLD Gold reached a high this morning of $1,125 per ounce after yesterday’s Federal Reserve dovish comments about the U.S. economy. A stronger U.S. Dollar and higher equity market caused some short term profit taking and Gold moved back to yesterday’s close. At 11am PST today, Gold is trading at $1,115.50 per ounce, down $0.50 on excellent volume.   SILVER...

GOLD Today, Gold is trading between $1,115 and $1,123 per ounce, just below its 12-week peak. Traders and investors remain cautious ahead of today’s first policy statement of the year from the Federal Reserve. The statement is expected to give clues on the direction of interest rates. At 11am PST today, Gold is down $5, trading at $1,116 per ounce...

GOLD Chinese shares dropped 6% in overnight trading, and crude oil prices fell to under $30 a barrel, causing fresh Gold buying. Today the Gold price is off and running, reaching a high of $1,121.60 per ounce, the highest price it has hit this year. At 11am PST today, Gold is trading at $1,121 per ounce, up $16 on excellent...