Daily Market Report

GOLD It’s not a good day in the precious metal markets. Gold opened unchanged from Monday’s close but could not stay above the $1,280 per ounce support level, reaching a low of $1,271.30. The volume is a little above average but there was not significant demand from Asia in overnight trading. At 11am PDT today, Gold is trading at $1,273...

GOLD Because of the Veteran’s Day holiday, trading is very thin in the U.S. Gold has traded in a very narrow $9 per ounce price range, from $1,279.60 on the low to $1,288.60 on the high. At one point, Gold tested the $1,280 support level and quickly rallied back above on light volume. At 11am PDT Today, Gold is trading...

GOLD Gold was trading at $1,310 per ounce this morning when the Commerce Department announced that non-farm employment had an increase of 204,000 jobs for the month of October, a sizeable increase over the 120,000 job increase that was expected. Gold quickly dropped to $1,281 per ounce on heavy volume because a jobs increase of that size would allow the...

GOLD The bears took control of the Gold market early this morning after the ECB announced a ¼ point rate cut which caused the U.S. Dollar to rally. The U.S. Dollar increase versus the Euro helped drive the price down to $1,296 per ounce. At that point the bulls came in with massive purchases taking the price back to $1,310...

GOLD Comments from Fed policymaker John Williams, who said the central bank should wait for stronger evidence of growth momentum before trimming bond-buying, helped balance out a surprisingly strong U.S. service sector report, and caused Gold to rally $9 this morning. At 11am PDT today, Gold is trading at $1,316 per ounce, up $7 per ounce on normal volume. Bank...

GOLD Gold continues to decline in a narrow trading range on light volume. I believe we will see a test of the $1,300 per ounce support level within the next 48 hours. I think Gold holding above that support level is very critical to short term trading. At 11am PDT today, Gold is trading at $1,309 per ounce, down $7...

GOLD Today, Gold is holding in the $1,315 to $1,320 area on moderate trading awaiting news from the European Central Bank on the possibility of loosening monetary policies. At 11am PDT today, Gold is trading at $1,316, up $2 per ounce on moderate volume. SILVER Indian demand for Gold was lower than estimated during the biggest Gold-buying festivals of Dhanteras...

GOLD Gold tested the $1,306 lows this morning and held, then quickly rallied back to $1,318 per ounce. We should see sizeable Asian buying on Monday, but for right now many professional traders are just going neutral into the weekend. At 11am PDT today, Gold is trading at $1,314 per ounce, down $9 per ounce for the day. SILVER Silver...

GOLD Gold was trading higher this morning (around the mid $1,350’s) awaiting the Federal Reserve news on U.S. monetary policy. The Fed reported they are continuing their $85 billion in monthly bond purchase program as is, and that the current fiscal policy is restraining economic growth. They also discussed other issues such as the housing and labor markets, but the...

GOLD Gold is trading in a very narrow price range awaiting a statement from the Federal Reserve policy makers meeting on U.S. monetary policy. There was some slight weakness in the Gold price this morning due to strength in the U.S. Dollar. At 11am PDT today, Gold is trading at $1,347 per ounce, down $7 per ounce on average volume...