Daily Market Report

GOLD Gold broke down below the $1,150 per ounce level in late trading yesterday and reached a low of $1,140.70 this morning. For most of today’s light trading, Gold has been in the $1,143 to $1,147 per ounce range. At 11am PDT today, Gold is trading at $1,145 per ounce, down $8 per ounce on light Friday volume.   SILVER...

GOLD This morning we saw a bullish breakout in the Gold price, based on the following four factors: Increased buying from jewelers and bullion dealers in India, which is being caused by the ongoing Wedding Season demand for physical Gold and Silver. Weak equity markets around the globe. A weak U.S. Dollar versus the Euro. Janet Yellen is speaking tonight...

GOLD Gold reached a low of $1,121 in early Asian trading. At that point, Gold showed excellent support and quickly attracted fresh buyers. As Gold trading rolled into Europe the buying continued, breaking above $1,130 per ounce. When New York opened, Gold rallied to $1,134 per ounce. It is important that Gold consolidate in the current $1,120 to $1,150 trading...

GOLD Gold sold off in early Asian trading due to light short term profit taking. The price of Gold declined to $1,121.30 per ounce before fresh buying appeared. It would be healthy for Gold to settle into a $1,120 to $1,150 per ounce trading range for a few days. At 11am PDT today, Gold is trading at $1,126 per ounce...

GOLD This morning Gold is trading in a healthy narrow $10 high/low price range. Gold reached $1,140 in early trading and then sold off to $1,130 per ounce on short term profit taking. At 11am PDT today, Gold is trading at $1,133 per ounce, down $4 on average volume. SILVER Silver sold off with Gold in early trading, reaching a...

GOLD Yesterday’s Federal Reserve’s decision not to raise interest rates was very bullish for Gold and Silver. Gold reached a two week high of $1,142 per ounce in early Asian trading this morning. Considering that the Dow has dropped almost 300 points and the U.S. Dollar has fallen versus the Euro, I would have liked to see Gold move above...

GOLD The long awaited announcement from the Federal Reserve (indicating whether they will raise interest rates) is coming today. Traders and market analysts are spilt on what the Federal Reserve will say, however yesterday’s sharp increase in Gold and Silver prices is indicating "no increase". At 11am PDT today the Federal Reserve announced there will be no increase in interest...

GOLD Gold rallied this morning after the U.S. Labor Department said that the consumer price index fell 0.1% in August. This surprise drop in U.S. inflation has complicated the Federal Reserve’s decision as to whether or not to increase interest rates for the first time in nearly a decade. Gold broke out of its recent tight price range, reaching a...

GOLD Many economists believe it is likely the Fed will move on interest rates this year. That belief, along with a stronger dollar today, is keeping a lid on Gold. Thursday we will hear something from the Federal Reserve Bank. At 11am PDT today, Gold is trading at $1,104 per ounce, down $4 on normal volume. SILVER Silver continues to...

GOLD This morning Gold is trading in a very narrow $6 high/low range from $1,110 to $1,104 per ounce. Traders are in a holding pattern waiting for this week’s interest rate announcement from the Federal Reserve. At 11am PDT today, Gold is trading at $1,108, up $3.50 on average volume. SILVER Silver has broken down below the recent $14.50 per...