Daily Market Report

GOLD Technical stops were triggered this morning on the U.S. Gold exchange and Gold broke down dramatically. At 8:00 AM EST, 4,543 lots (454,300 ounces) traded in the active December Gold contract and Gold dropped $9. Then, at exactly 8:30 AM EST, 8,174 (817,400 ounces) lots of Gold hit the exchange as stops went off. Gold fell from $1,310 all...

GOLD Today the Gold price has been as high as $1,344 and as low as $1,323 based on the news coming out of Washington about the possibility of a U.S. government shutdown tomorrow after the Republican-controlled House of Representatives, early on Sunday, passed a measure that ties government funding to a one-year delay of Obama’s landmark healthcare restructuring law. The...

GOLD Today, comments from a Federal Reserve official suggested an $85 billion bond-buying taper could be pushed out to next year causing Gold to rally $12 per ounce. Gold did reach $1,344 per ounce before seeing professional taking profits before the weekend. At 11am PDT today, Gold is trading at $1,337 per ounce up $12 per ounce on average volume...

GOLD Gold opened lower today based on a strengthening of the U.S. Dollar which is due to a better than expected weekly jobless claim report. The Congressional Budget debate and upcoming concerns over raising the debt ceiling is giving support to the Gold price, but the market is range bound. Gold is showing firm support at $1,315 per ounce, with...

GOLD Finally a nice Gold rally! Today, based on reports on increasing central bank Gold buying in August, Gold rallied. At 11am PDT today, Gold is up $12 per ounce, trading at $1,336 per ounce on better than average volume. SILVER Silver traded in a very thin $0.49 range today, between $21.96 and $21.47. At 11am PDT Today, Silver is...

GOLD Based on a lack of Federal Reserve tapering, Barclay’s Bank believes Gold could reach $1,482 by next month. Gold opened lower today, reaching $1,305 per ounce, then rallied on excellent demand to close at the highs of the day. At 11am PDT Today, Gold is trading at $1,324 per ounce, down $2 on the day on good volume. SILVER...

GOLD Gold closed in late trading on Friday at $1,326 and today it has traded within a few dollars of that price. With the congressional debate over the U.S. budget and the legislation to raise the national debt the precious metal markets are focused on Washington D.C. At 11am PDT today, Gold is trading at $1,326 per ounce, unchanged from...

GOLD Today we are seeing weekend profit taking from many professional traders. With a congressional budget fight and serious problems raising the debt limit on the horizon, we could see a significant rally in precious metals this month. At 11pm PDT today, Gold is down $34 per ounce, trading at $1,336 per ounce on better than average volume for a...

GOLD In a surprise move, the Federal Reserve said late yesterday that it would continue its $85 billion bond-buying program for at least another month. After the announcement Gold quickly rallied $50 and continued higher last night and again this morning. Since last September, the Fed has been buying $85 billion in bonds each month in an effort to lower...

GOLD Today was an exciting day for Gold investors. Gold broke through the key $1,300 per ounce support level this morning on concerns of today’s FOMC announcement regarding the possibility of tapering its $85 billion monthly debt purchases. At one point today Gold dropped to as low as $1,291.60. Then, as we approached the FOMC announcement, the U.S. Dollar started...