Daily Market Report

GOLD This morning the U.S. Dollar approached a new 10-year high versus the Euro. This, combined with the current trend, has caused the Gold price to reach a low of $1,066.80 per ounce. At 11am PDT today, Gold is down $9.00, trading at $1,068 per ounce on normal volume.   SILVER Silver sold off with Gold this morning, reaching a...

GOLD Asian short covering of Gold contracts took the price up to $1,088 per ounce this morning. Many professional traders try to be flat (not long or short) on Fridays, eliminating any market risk over the weekend. After reaching $1,088 this morning sellers appeared, taking the price down $10 per ounce. At 11am PDT today, Gold is down $1, trading...

GOLD There was sizeable bargain buying of Gold in the Asian markets this morning. That buying caused the Gold price to rally from $1,069 to $1,087.00, then the bears came back, driving the price back under $1,080 per ounce. At 11am PDT today, Gold is up $10 per ounce, trading at $1,078 per ounce with normal volume.   SILVER During...

GOLD The U.S. Dollar continues to strengthen ($1.04 versus the Euro) while the Gold price remains under attack from professional short sellers and chart technicians. Recent Gold trading remains weak as Gold hits new multi-year lows, approaching the 2010 low of $1,058 per ounce. At 11am PDT today, Gold is down $2 per ounce, trading at $1,068 on average volume...

GOLD I have turned short term negative on Gold, based on yesterday’s failure of Gold to break above the key $1,100 per ounce resistance level. After the terrorist activity in Paris and a rally in crude oil, Gold should have shown “Safe Haven” strength and it didn’t. So, Gold setting a new six year low of $1,064 per ounce today...

GOLD What happened last night in Asia when the Gold market opened after the ISIS attack in Paris? Gold quickly rallied up $16 per ounce, reaching a high of $1,098 on fresh buying. Then, as the Gold market rolled into European and U.S. trading, the price sold off. Many traders, seeing that the strength of the rally couldn’t move it...

GOLD Gold is treading water, trading in a $10 high/low range, from $1,089 to $1,079 per ounce. Global physical demand continues to be strong from central banks and consumer demand. At 11am PDT today, Gold is up $0.22 per ounce, trading at $1,082 per ounce.   SILVER Silver hit another new monthly low this morning of $14.17 per ounce. At...

GOLD The Gold price continues to set new recent lows daily. Today Gold reached a low of $1,074.20, just $2 away from this year’s low. A high trading volume break below the $1,072 level could easily take the price down to $1,050 because of margin calls and technical short sells. However, today Gold did find excellent demand at the lows...

GOLD I am getting very disappointed with the recent Gold trading. If Gold doesn’t rally above the $1,100 per ounce level on good volume by Friday, I think we will soon test and/or break below the July 24th low of $1,072.30. That could be the final clean out before the long awaited turn into a major bull rally. At 11am...

GOLD The U.S. Dollar continues to rally as Gold stays in a tight high/low price range. With the increased Gold demand I am a little disappointment that the Gold price hasn’t rallied back above the key $1,100 per ounce level. Gold is trading just above and below the $1,090 per ounce level looking for direction. At 11am PDT today, Gold...