Daily Market Report

GOLD In early trading Gold moved back above the key $1,100 per ounce resistance level in active trading, reaching a high of $1,105. At that point Gold picked up some short term profit takers and started trading above and below the $1,100 per ounce level. I believe a Gold price above $1,100 per ounce is a key factor for a...

GOLD $1,080 is a very important support level for Gold right now. Gold hit $1,077 per ounce in overnight trading and quickly rallied back above $1,080. A confirmed breakdown below $1,080 could result in a decline to $1,044 per ounce; a historic major support level. I would like to see Gold rally back above the $1,100 resistance level by Monday...

GOLD During the past three days Gold has traded above and below the important $1,100 per ounce price level. Gold has seen resistance with light selling at $1,107, and support with excellent demand at $1090 per ounce. A break above or below this trading range will give us a good indication of the short term price direction. At 11am PDT...

GOLD Gold has traded above and below the $1,100 per ounce price level today on excellent volume. The recent low for Gold is $1,080 and a bargain price for Gold attracts heavy buying. It was reported that Russia purchased 25 tonnes of Gold in June. At 11am PDT today, Gold is down $10, trading at $1,094 per ounce on excellent...

GOLD After yesterday’s $53 high/low price volatility in Gold, today the price is trying to consolidate above $1,100 per ounce. Fresh buying has caused Gold to trade today between $1,097 and $1,110 per ounce on respectable volume. After reaching a low of $1,080 yesterday, it is important that Gold build support over the $1,100 per ounce price level. At 11am...

GOLD In early Asian trading, half-an-hour after the Shanghai Gold exchange market opened, someone sold 5 tonnes of Gold into this lightly traded market. This sale is way above normal trading volumes and quickly drove the price down to $1,080 per ounce before serious demand appeared, driving the price back over $1,100 per ounce very quickly. This sale was not...

GOLD A combination of a strong U.S. Dollar and the release of disappointing news from the Chinese government about its Gold reserves pushed the Gold price to new 2015 lows this morning. Today, the Gold price broke down below its 2015 low of $1,141 per ounce, reaching $1,129 per ounce on active volume. With news about Greece and Iran behind...

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...