Daily Market Report

GOLD Gold reached a low this morning of $1,164 per ounce before see some light buying. Gold appears to be staying in its new trading range between $1,150 and $1,190 per ounce, awaiting some fresh news. Russia is increasing its Gold purchases, buying 34.2 metric tonnes of Gold in September. Read the article at: http://www.mintstategold.com/investor-education/russia_accumulates_more_gold/ At 11am PDT Today, Gold...

GOLD Reports that some of the World’s leading central banks are increasing their Gold buying have given support to the Gold price this morning. Gold reached a low of $1,167.30 in early Asian trading before the report was released and quickly rallied back to $1,180 before seeing some light selling. At 11am PDT today, Gold is trading at $1,175 per...

GOLD Gold sold off this morning by 1% in early Asian trading. After this month’s $68 increase, it is normal (and still bullish) to see the market establish a new higher trading range between $1,150 and $1,190 per ounce. At 11am PDT today, Gold is trading at $1,172 per ounce, down $10 on average volume.   SILVER Silver sold off...

GOLD Short term profit taking took the Gold price down to $1,175 this morning. At that point fresh buyers appeared and the market rallied $6, back above the $1,180 level. However, we have had a great week: up $23 for the week and up $65 for the month, plus Gold has broken above two resistance levels. I think we will...

GOLD Gold has moved higher seven of the last eight trading days, from $1,113 to $1,191 per ounce. Today, the breakout continues with Gold reaching a high of $1,191.80 per ounce on its way to test the long term $1,200 resistance level. What is driving the Gold price higher is short covering and fresh buying. A firm move above $1,200...

GOLD $1,200 per ounce here we come. Yesterday’s rally above the $1,166 to $1,175 is causing a sizeable amount of professional short covering that could easily send the price up to $1,200 very soon. Today, Gold moved above $1,180, well above the 200 Day Moving Average of $1,176 per ounce. At 11am PDT today, Gold is up $16.50, trading at...

GOLD This morning Gold tested the $1,150 support level, reaching $1,151.80 per ounce, then rallied. This morning’s rally took Gold above the $1,166 resistance level, reaching a high of $1,167.50. A firm break above $1,166 on good volume could allow Gold to reach the important $1,200 per ounce long term resistance level. At 11am PDT today, Gold is up $8...

GOLD Gold moved higher this morning (reaching a three-week high) after minutes from the Federal Reserve’s last policy meeting showed that the Fed was in no hurry to raise interest rates. Gold moved back above the key $1,150 resistance level this morning on excellent volume. I really like the recent price activity of spot Gold trading on the exchanges. The...

GOLD After moving above the key $1,150 per ounce resistance level yesterday, this morning Gold showed some short term profit taking. Gold moved to a low of $1,136 in early Asian trading before serious buyers appeared. At 11am PDT today, Gold is trading at $1,148 per ounce, down $1 on average volume.   SILVER This morning there was serious selling...

GOLD Gold has broken above the key $1,150 resistance level six times since August 1, but hasn’t been able to hold. I believe Gold will break through the $1,150 per ounce barrier very soon. This is an important short term resistance area for Gold in order to move to the $1,200 long term resistance level. At 11am PDT today, Gold...