Daily Market Report

GOLD Gold rallied this morning after the U.S. Labor Department said that the consumer price index fell 0.1% in August. This surprise drop in U.S. inflation has complicated the Federal Reserve’s decision as to whether or not to increase interest rates for the first time in nearly a decade. Gold broke out of its recent tight price range, reaching a...

GOLD Many economists believe it is likely the Fed will move on interest rates this year. That belief, along with a stronger dollar today, is keeping a lid on Gold. Thursday we will hear something from the Federal Reserve Bank. At 11am PDT today, Gold is trading at $1,104 per ounce, down $4 on normal volume. SILVER Silver continues to...

GOLD This morning Gold is trading in a very narrow $6 high/low range from $1,110 to $1,104 per ounce. Traders are in a holding pattern waiting for this week’s interest rate announcement from the Federal Reserve. At 11am PDT today, Gold is trading at $1,108, up $3.50 on average volume. SILVER Silver has broken down below the recent $14.50 per...

GOLD Gold tested its $1,100 per ounce support level this morning in early Asian trading. Gold reached a low of $1,098.70 before sizeable demand appeared driving the price back up to $1,110 per ounce. At 11am PDT today, Gold is trading at $1,104.50 per ounce, down $5.50 on average Friday volume. SILVER When Gold broke the $1,100 per ounce support...

GOLD Gold attempted to break its important $1,100 support level this morning, reaching a low of $1,104 in early Asian trading. At that point, demand and volume increased, driving the price back to $1,110 per ounce. The recent weakness in the Gold price has been caused by strong U.S. economic data, and outflows from bullion-backed exchange traded funds sapped investor...

GOLD Today, Gold fell to a three-week low of $1,101.30 as many of the world’s stock markets strengthened and the U.S. Dollar moved higher. The $1,100 level is an important support price for Gold. After reaching today’s lows the Gold demand increased. At 11am PDT today, Gold is down $17 per ounce, trading at $1,106 per ounce on heavy volume...

GOLD Fresh buying hit the Gold market this morning, as the price bottomed out overnight in the Asian markets at $1,118 per ounce. Gold continues to stay above the key short term support level of $1,120 per ounce. At 11am PDT today, Gold is trading at $1,123, unchanged from last Friday on excellent volume. SILVER Silver looks to be taking...

GOLD It was reported today that the U.S. economy added 173,000 jobs in August, and the unemployment rate has fallen to 5.1%. Initially, this news drove the price of Gold down to $1,117, below the key $1,120 support level. However, buying appeared at the lows and the price rallied back to $1,125 per ounce. At 11am PDT today, Gold is...

GOLD Gold tested its $1,120 per ounce support level this morning and held. Gold’s recent short term trading range is between $1,120 to $1,150 per ounce. It is important that Gold holds that range for now. At 11am PDT today, Gold is trading at $1,125 per ounce, down $10 on average volume. SILVER Silver has been showing more price support...

GOLD After a three day rally, Gold has settled back into its $1,120 to $1,150 trading range. Today Gold is trading in a narrow $10 high/low range between $1,132 and $1,142, showing excellent consolidation. At 11am PDT today, Gold is trading at $1,135 per ounce, down $5 with average trading volume. SILVER Silver continues to show heavy demand in the...