Daily Market Report

GOLD This morning Gold is holding in a narrow range from $1,089 to $1,096 per ounce. Gold needs to move back above the $1,100 per ounce level quickly to encourage traders to be long. At 11am PDT today, Gold is trading at $1,090 per ounce, unchanged from Friday.   SILVER Silver has found some bargain buyers and short covering around...

GOLD This morning the U.S. Labor Department reported that the U.S. economy added 271,000 jobs in October. Strong hiring in October drove the unemployment rate down to 5%. This increase was much higher than economists had predicted and the stock and precious metal markets declined quickly. After the Job’s announcement Gold immediately dropped $21, reaching a low of $1,084.50 per...

GOLD An Interesting article, by Hebba Investments, was posted yesterday (See link below). Hebba points out that the unemployment number that will be released tomorrow will provide the needed information that would help the Federal Reserve make the decision on the direction of interest rates at their December meeting. Gold/Silver prices would be dramatically affected by the Federal Reserve’s decision...

GOLD The eyes of most precious metal traders are on Congress this morning as the Fed Chairman is testifying. Chairman Yellen just stated that the Federal Reserve is still considering raising interest rates next month. This statement drove the U.S. Dollar higher, and drove both the Dow Jones and Gold/Silver lower. In this environment, I still believe Gold will test...

GOLD The recent decline in the Gold price continues for the fifth trading day in a row. Gold reached a low of $1,114 per ounce this morning. The bears have regained control of the Gold commodity exchanges, but the Gold equities have been relatively stable. Without any exciting news, I think the $1,100 per ounce support level will be tested...

GOLD Gold continues its recent sell off this morning, reaching a low of $1,132 per ounce in early Asian trading. Gold found excellent bargain buying demand below $1,135 per ounce. At 11am PDT today, Gold is trading at $1,136 per ounce, down $6 on excellent volume.   SILVER Silver broke down with Gold, moving below its recent $15.50 per ounce...

GOLD This was not a happy week for Gold investors. After breaking down below the key $1,150 support level yesterday, the bears came back. Today, Gold is closing on the lows of the week due to light margin call selling. At 11am PDT today, Gold is trading at $1,142 per ounce, down $6 on normal weekend light volume.   SILVER...

GOLD Gold reacted negatively in late trading yesterday; after the Federal Reserve left interest rates unchanged but signaled a December rate hike was still on the table. Today’s trading is important because Gold broke below the key $1,150 support level. I need to see Gold rally back into its recent trading range of $1,150 to $1,190 immediately to stay bullish...

GOLD Gold has moved upwards this morning, moving above $1,175 per ounce on excellent volume. Market analysts have a general feeling that the Federal Reserve will make no decision to raise interest rates. Many traders believe that the Fed is not likely to give any definitive schedule for raising interest rates/ At 11am PDT today, Gold is trading at $1,172...

GOLD Gold trading yesterday and today reminds me of watching paint dry. There is little to no activity, with a tight high/low price range ($1,168 to $1,160 per ounce) and very light trading volume. Why? Traders are focusing on news that may come out of the upcoming Federal Reserve meeting. The U.S. Dollar is also trading in a tight range...