Daily Market Report

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...

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...