Daily Market Report

GOLD It appears that the recent sell off in the Platinum and Palladium prices has affected Gold and Silver negatively. The Platinum price is now at a six-year low and is trading at a $105.00 discount to Gold. It appears that Gold/Silver is treading water awaiting the Federal Reserve announcement and Chairman Yellen’s news briefing scheduled for later today. At...

GOLD Gold traded today in a narrow range from $1,176 to $1,188 per ounce on average volume. There is excellent demand when the price moves below $1,180. At 11am PDT today, Gold is trading at $1,182 per ounce, down $4 on average volume. SILVER Silver continues to trade above and below the important $16 per ounce price level. Today, Silver...

GOLD This morning’s combination of little progress with the Greek debt crisis, and a report of U.S. industrial production falling by 0.2% in May, has resulted in a nice rally in the Gold price. The Gold price continues to stay within the $1,180 to $1,220 trading range. Today’s U.S. industrial production report included a revision for April showing a 0.5...

GOLD Gold traded today in a very thin $8 High/Low price range. The high was $1,184 and the low was $1,176 per ounce. This being Friday a narrow trading range on light volume isn’t surprising. I look for a breakout of the recent trading range very soon. At 11am PDT today, Gold is trading at $1,180.50 per ounce, down $0.50...

GOLD After a three day rally, the Gold price took a breather and sold off on light selling; the selling was caused by strong U.S. economic data. U.S. retail sales increased 1.2% in May, topping the 1.1% growth expected by economists. Plus, U.S. import prices rose in May, after 10 months of declines, while the weekly jobless claims rose slightly...

GOLD Gold moved higher this morning for the third straight session. Gold’s rally was helped by a weaker U.S. dollar and worries over the Greek debt crisis. At 11am PDT today, Gold is trading at $1,187, up $9 per ounce on excellent volume. SILVER Considering today’s $9 Gold rally, the Silver price disappointingly is not moving higher. Plus, the Silver/Gold...

GOLD Gold rallied this morning on uncertainty over the Greek debt crisis. Greece proclaimed a new willingness to compromise with its international creditors on Monday, as German Chancellor Angela Merkel warned that time was running out for a reform-for-aid deal to keep the country in the Euro. A failure to agree on a deal could trigger safe-haven bids for Gold...

GOLD This morning Gold found excellent demand in the $1,169 per ounce area. Gold has traded today in a narrow $8 high/low price range, from $1,169 to $1,177 per ounce. I would like to see Gold move back above the key $1,180 per ounce level. At 11am PDT today, Gold is trading at $1,174 per ounce, up $5 on excellent...

GOLD The U.S. economy added 280,000 jobs last month, the best month of 2015. This news caused Gold to continue its recent decline, reaching a low of $1,162.70 before finding fresh bargain buyers. If Gold doesn’t find major support in Asia on Monday, it could test the 2015 low of $1,141.60 per ounce. Gold reached that low on March 17th...

GOLD Gold broke below the $1,180 support level in early Asian trading and technical traders shorted the Gold market, driving it down to $1,172 per ounce. At that point bargain buyers appeared and rallied the price back up to $1,178. At 11am PDT today, Gold is trading at $1,176, down $10 per ounce on heavier than average volume. The International...