Daily Market Report

GOLD The U.S. Dollar continues to weaken versus the Euro and physical demand for Gold investment products remains very strong for Gold bars and coins. This morning Gold reached $1,170 per ounce on excellent volume, before traders took some short term profits. Equity markets around the globe continue to decline, with the Dow/Jones down another 300 points. At 11am PDT...

GOLD After Gold quickly moved above the $1,150 per ounce resistance level yesterday, many professionals started covering their short sales, driving the price to the next resistance level of $1,170 last night. This morning the price dropped back to trade in the $1,160 area. The next major resistance level is $1,200 and a confirmed move above that level could bring...

GOLD Today, Gold moved quickly above its next major resistance level of $1,150 per ounce, as the rally continues. Trading is very active in the futures and physical markets with excellent demand in both. If Gold can close above $1,150 for a minimum of the next 3 trading days, I would be looking at $1,200 as the next resistance level...

GOLD Gold is continuing its rally, reaching a high today of $1,132.20 per ounce on excellent trading volume. The next resistance point is $1,150 per ounce, but I would like to see Gold trading between $1,120 and $1,150 to consolidate the move higher. At 11am PDT today, Gold is trading at $1,130 per ounce, up $13 on excellent volume. SILVER...

GOLD Gold traded in a narrow high/low price range today, from $1,110 to $1,121 per ounce. We continue to see excellent price consolidation above the key $1,100 per ounce level. At 11am PDT today, Gold is trading at $1,117 per ounce, down $1 on average volume. SILVER Silver broke below the key $15 per ounce support level this morning, reaching...

GOLD Gold moved higher since the Asian opening at $1,113 per ounce. The rally took the price up to a high of $1,123 per ounce before seeing any serious short term profit taking. Both futures markets and physical Gold products demand remain strong. Price consolidation of the recent gains in the Gold price would be very healthy for the long...

GOLD For most of today’s trading Gold stayed within a narrow $5 high/low price range between $1,113 and $1,118 per ounce. Gold moved above the key $1,100 per ounce resistance level on Monday and held above $1,100 the remainder of the week. Breaking the recent downtrend is a very bullish sign for the future of the Gold price. At 11am...

GOLD After a five day Gold rally which took the price from $1,086 to $1,125 per ounce (a $39 increase) we saw some short term profiting taking today. This is the fourth day above the important $1,100 per ounce level and demand remains strong on both futures contracts and physical products. At 11am PDT today, Gold is trading at $1,116...

GOLD The combination of the continued devaluation of the Chinese Yuan, resulting in a weaker U.S. Dollar, is helping to drive Gold and Silver higher. Gold rallied today, reaching a high of $1,126 per ounce before seeing short term profit taking. At 11am PDT today, Gold is trading at $1,124 per ounce, up $16 on active volume. SILVER This morning...

GOLD This morning Gold continues its breakout above the key resistance level of $1,100 per ounce. Today, China devalued its currency approximately 2%, which caused the Yuan to fall to the lowest level in 3 years. Weak domestic economic data drove the Chinese central bank to devalue its currency. This move makes Gold more expensive in Chinese Yuan and could...