Daily Market Report

GOLD Gold has traded in a very narrow $7 high/low price range today between $1,142 and $1,149 per ounce. Gold is trying to build a base with a lot of physical and exchange futures contract demand above the recent low of $1,141. $1,141 per ounce is becoming a very crucial support level for Gold. If Gold breaks below $1,141, making...

GOLD This morning Federal Reserve Chair, Janet Yellen, told Congress that the Fed still plans to begin raising interest rates this year amid an improving economy, but that it will likely push them up gradually. As mentioned yesterday, Gold reacted by immediately hitting the recent low of $1,141 per ounce and then quickly rallied on increasing volume. At 11am PDT...

GOLD Gold traded today in a very narrow $7 high/low price range, between $1,153 and $1,160 per ounce. Based on the current news, I am disappointed that Gold hasn’t already broken out on the upside. Since the beginning of the year, every time Gold trades below $1,150 per ounce, sizeable demand appears and the market quickly bounces back. So, I...

GOLD This morning, Gold quickly dropped $9 per ounce, reaching a low of $1,151 per ounce, then rallied back $6 on heavy buying. The market-moving news this morning is the agreement, in principal, of a bailout for Greece. Greece needs to implement bold reforms and accept a high level of external economic supervision in return for a possible €82bn-€86bn. Over...

GOLD Today, Gold is trading in a narrow $7 high/low trading range from $1,164 to $1,157 per ounce. Although Gold priced in U.S. Dollars was down last year and is trading near its 2015 lows, European Gold investors saw a 10% gain last year and another 8% year-to-date. U.S. interest rates should remain low for a while, bullish for Gold...

GOLD Gold is trying to consolidate in the $1,155 to $1,165 per ounce area. Speculative and physical demand has been strong when Gold trades down to the lows of $1,150’s or below. Minutes from the Federal Reserve’s last meeting, released yesterday, showed reluctance towards a near-term increase in interest rates which also added support for the Gold price. At 11am...

GOLD After reaching a low of $1,145.90 earlier this morning, Gold quickly rallied on excellent trading volume. There was strong demand from bargain buyers and financial firms, which drove the price higher. At 11am PDT today, Gold is trading at $1,164 per ounce, up $9 per ounce on healthy volume. World debt has now exceeded an astonishing $200 trillion US...

GOLD Gold sold off this morning as the ECU and IMF continue to negotiate with Greece over the debt crisis. Gold reached a low of $1,146.80 (above the $1,141 support level) in early trading on concerns that the ECU would force Greece into debt default and allow them to leave the Euro. At that price level, CME trading volume and...

GOLD After yesterday’s ’No’ vote in Greece, Gold quickly rallied $8 per ounce, then the Euro fell more than 1% against the U.S. Dollar, hitting $1.08. This drove Gold back down to $1,168 per ounce. European and American stock and bond markets dropped sharply after the open today, but the U.S. Market rallied back and sold off again. This morning...

GOLD After the U.S. Labor Department reported that 223,000 jobs were added in June, Gold sold off, reaching a low of $1,157 per ounce. This was the third consecutive month of healthy job gains. The unemployment rate fell to 5.3%, lower than economists’ had expected. The unemployment rate is now back at levels last seen before the 2008 financial crisis...