Daily Market Report

GOLD After yesterday’s $9 decline, today Gold has traded in a tight $8 high/low range with excellent support at the $1,067 level. Trading volume continues to be light because of the holiday week. At 11am PST today, Gold is trading at $1,069, up $2 per ounce.   SILVER Silver is having a difficult time staying above the $14 resistance level...

GOLD This morning Gold reached a high of $1,077 per ounce before seeing selling that drove the price back to $1,066 based on a stronger U.S. Dollar and a weaker oil price. Year-end tax loss selling still has me concerned, but I believe the $1,045 level (the 2015 low) will hold. At 11am PST today, Gold is trading at $1,067...

GOLD The high/low trading range for Gold continues to tighten this morning on light holiday volume. Today’s high was $1,077.20 and the low was just $6 less as the Gold price consolidates. I am still a little concerned about possible year-end tax selling, but if we can get to the end of the year in this range, I would be...

GOLD Gold continuing to consolidate in a tight high/low trading range is very healthy for the Gold market. The trading range for the Gold market today was between $1,068 to $1,076 per ounce. The trading volume is light, but being a holiday week, that isn’t surprising. At 11am PDT today, Gold is down $4, trading at $1,069 per ounce on...

GOLD Gold is consolidating in a narrow $9 high/low range, from $1,072 to $1,081 per ounce. There is short term support at $1,065 and resistance at $1,085. This is bullish after reaching the 2015 lows last week. At 11am PDT today, Gold is trading at $1,073 per ounce, down $7 on average volume.   SILVER Silver is showing excellent demand...

GOLD This morning Gold continues to move higher from last Thursday’s lows. Gold appears to have bottomed out last Thursday, the first trading day after the Fed raised interest rates. Demand and trading volume is growing as Gold hit a high today of $1,082 per ounce. At 11am PDT today, Gold is up $13, trading at $1,080 per ounce on...

GOLD Gold rallied this morning as the U.S. Dollar weakened in overnight trading. I suspect that Gold rebounded as traders covered their positions going into the weekend. It’s a positive sign to see Gold correct, but I’d like to see it test the $1,080 level hopefully in the not to distant future, as that has been the short-term resistance this...

GOLD After Janet Yellen and the Fed’s news yesterday, the price of Gold held well. It wasn’t until the New York market opened today that we saw some sellers come into the market. At that point traders came in and we started seeing support at the $1,050 level, clearing out the weak hands. I am looking into what may be...

GOLD Gold trading remained relatively stable today as the Fed announced a 0.25%-0.50% interest rate increase; the first rate increase since June 2006. The Fed also said they will implement gradual increases over time going forward. Gold traded in the $1,061 - $1,077 range within minutes of the Fed news release. This range is not substantial as the Fed news...

GOLD Gold remained steady most of the day in anticipation of this week’s Federal Reserve announcement of an interest rate increase. The Federal Open Market Committee (FOMC) is expected to make the announcement tomorrow, following their two-day policy meeting that starts later today. Gold prices in India swung to a discount for the first time in a month yesterday, as...