Daily Market Report

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...

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...