Daily Market Report

GOLD Today Gold tested its $1,100 support level, reaching $1,093 per ounce, then quickly rallied above that level. Gold is fighting to stay above the $1,100 level at the moment as traders take their profits going into the weekend. At 11am PDT today, Gold is trading at $1,098 per ounce, down $9 on good volume.   SILVER Silver also tested...

GOLD As the world’s equity markets are getting slammed, the precious metal sector is moving higher. Gold has broken over the $1,100 per ounce resistance level about a week ahead of my schedule. The strength and trading volume of this Gold rally is very impressive. Gold hit a high today of $1,109.30 as many professional traders covered their short sales...

GOLD Gold continues its rally, reaching a high this morning of $1,093 per ounce before seeing some professional traders taking short term profits. However, after the short term profit taking, Gold rebounded and is continuing to go back up. Today’s high represents a $34 increase in the Gold price since the beginning of the year. At 11am PDT today, Gold...

GOLD It looks like Gold is holding well today after its rally yesterday, trading in the $1,075 - $1,083 range. It is bullish to see the Gold price hold after a rally. Based on today’s trading, I would like to see Gold test the $1,100 level in the not too distant future. At 11am PDT today Gold is trading at...

GOLD This morning Gold reached a high of $1,082 per ounce after reports of slow growth and wildly volatile markets in China, plus geopolitical problems in the Middle East. This news has taken the Dow Jones Industrial Average down over 400 points. At 11am PDT today, Gold is trading at $1,076 per ounce, up $15 on heavy volume. SILVER Silver...

GOLD The Bears tested Gold in early Asian trading, reaching a low of $1,057 per ounce, but Gold quickly rallied. The Gold price should close 2015 around $1,062 per ounce. At 11am PST today, Gold is trading at $1,061 per ounce, unchanged for the day. SILVER Silver tried to rally over $14 per ounce but failed. At 11am PST today...

GOLD A combination of year-end tax selling, a firmer U.S. Dollar, and weakness in the oil prices has resulted in the last Bear Attack on the Gold price today. I still believe that 2015 will be the year Gold ends its four year bear market, with the Dec. 3rd 2015 low of $1,045.40 per ounce being the bottom. Gold did...

GOLD After yesterday’s $9 decline, today Gold has traded in a tight $8 high/low range with excellent support at the $1,067 level. Trading volume continues to be light because of the holiday week. At 11am PST today, Gold is trading at $1,069, up $2 per ounce.   SILVER Silver is having a difficult time staying above the $14 resistance level...

GOLD This morning Gold reached a high of $1,077 per ounce before seeing selling that drove the price back to $1,066 based on a stronger U.S. Dollar and a weaker oil price. Year-end tax loss selling still has me concerned, but I believe the $1,045 level (the 2015 low) will hold. At 11am PST today, Gold is trading at $1,067...

GOLD The high/low trading range for Gold continues to tighten this morning on light holiday volume. Today’s high was $1,077.20 and the low was just $6 less as the Gold price consolidates. I am still a little concerned about possible year-end tax selling, but if we can get to the end of the year in this range, I would be...