Daily Market Report

GOLD Gold demand remains strong as the price moved higher this morning. Gold briefly rose above the $1,150 resistance level, reaching $1,151.40 per ounce before seeing some short term profit taking. At 11am PDT today, Gold is trading at $1,147 per ounce, up $10 on excellent volume.   SILVER Silver’s rally continues, with Silver increasing $1.45 per ounce in just...

GOLD This morning Gold is holding last Friday’s rally, trading between $1,130 and $1,142 per ounce on excellent volume. This is surprisingly good in the face of a stronger U.S. Dollar and Stock Market today. At 11am PDT today, Gold is trading at $1,137 per ounce, up $1 on good volume.   SILVER Silver continues Friday’s rally, moving above the...

GOLD After reaching a two week low of $1,104 in early Asian trading, the Gold price quickly rallied. Fresh buying, combined with a weak U.S. Jobs report for September, drove Gold and Silver prices straight up, and drove the Dow Jones down 250 points. Today’s $22 rally in the Gold price was very impressive, as the CME Gold trading volume was...

GOLD After hitting $1,156 last Thursday, Gold has declined 5 trading days in a row. Today, Gold reached a low of $1,111 per ounce on normal volume, before buyers appeared. Unless Gold breaks back above the $1,120 by Monday, I am looking for a re-testing of the $1,100 per ounce long term support level. At 11am PDT today, Gold is...

GOLD To say I was disappointed with the decline in the Gold price today, breaking below the $1,120 support level, would be an understatement. Hopefully, today’s decline is temporary and it will move back above the $1,120 level by the weekend. However, if the price doesn’t recover quickly, we could see another test of the long term support level of...

GOLD Gold is trading today in a narrow $10 high/low range, from $1,124 to $1,134 per ounce. It would be healthy for Gold to consolidate in the current $1,120 to $1,150 trading range. At 11am PDT today, Gold is trading at $1,127.50 per ounce, down $5.60 per ounce on average volume.   SILVER Silver showed excellent demand this morning in...

GOLD This morning Gold was unable to move back above the $1,150 in early Asian trading, reaching a high of $1,148 per ounce before selling off. This morning’s technical sell-off took the price of Gold down to $1,128 before sizeable buying appeared. At 11am PDT today, Gold is trading at $1,133 per ounce, down $12 on excellent volume. SILVER Silver...

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...