Daily Market Report

GOLD WOW, only a $7 high/low trading range today! Gold traded between $1,186 and $1,193 all day on normal Friday light volume. Gold appears to be consolidating in this trading range. The U.S. Dollar hit a 13-year high versus the Japanese Yen, and continues to remain strong versus the Euro. At 11am PDT today, Gold is trading at $1,190 per...

GOLD This morning Gold tested its $1,180 per ounce support level in Asian markets, reaching a low of $1,180.80 per ounce. At that point bargain and technical buyers appeared, quickly causing the price to move up $10 per ounce. At 11am PDT today, Gold is up $1 per ounce, trading at $1,188 on average volume. SILVER Silver continues to show...

GOLD Gold traded today in a very narrow $7 per ounce high/low range. At 11am PDT today, Gold is trading at $1,187 per ounce, down $1 per ounce on light volume. Dmitry Tulin, who manages monetary policy at the Russian central bank, explained that Russia is buying massive quantities of Gold based on fear that Russia’s overseas assets could be...

GOLD Gold fell $18 per ounce this morning (a two-week low) as the U.S. Dollar pushed higher, reaching $1.07 versus the Euro. This morning’s drop in the Gold price followed comments from Federal Reserve Chair, Janet Yellen, which reinforced the U.S. Central Bank’s tightening bias on monetary policy. At 11am PDT today, Gold is down $16, trading at $1,188 per...

GOLD Today, Gold tested the important $1,200 per ounce support level for the third time this week, reaching a low of $1,201.40. Federal Reserve chairman Janet Yellen spoke this afternoon, which had little to no effect on the markets. Basically, she said that everything was status quo, and interest rates may not increase until 2016. At 11am PDT today, Gold...

GOLD Gold tested the important $1,200 per ounce support level this morning, reaching $1,201.60. Gold held that level (on buying based on technical fundamentals) and rallied higher. At 11am PDT today, Gold is trading at $1,204, down $6 on good volume. SILVER Like Gold, Silver also tested its important recent support level of $17 per ounce and held this morning...

GOLD Yesterday precious metals sold off sharply as the result of a surging U.S. Dollar. While Gold fell below the 200-day moving average of $1,216, it held above the very important $1,200.00 support level. Today, Gold tested, and held, the $1,200 support level again. I am looking for Gold to stabilize within the $1,200 and $1,220 per ounce trading range...

GOLD This morning the European Central Bank’s suggestion that it may speed up bond buying caused the U.S. Dollar to rally and precious metals to sell off. Today’s decline in the Gold price broke the five day rally, while testing the key $1,200 per ounce support level. At 11am PDT today, Gold is trading at $1,209, down $18 per ounce...

GOLD Gold is up again this morning on fresh Asian buyers. Gold has been up five straight days, breaking above the $1,220 resistance level each day. Hopefully, Gold will now establish a new trading range between $1,220 and $1,260 per ounce. At 11am PDT today, Gold is trading at $1,227 up $3 per ounce on average volume. SILVER Silver is...

GOLD Yesterday’s weak economic data (with the U.S. Producer Price Index falling by .4% in April) helped precious metal prices. This news, combined with a weaker U.S. Dollar, helped Gold break above the 200-day moving average of $1,218, as it recorded an intra-day high of $1,228 per ounce. Today Gold is showing excellent global support above the $1,220 per ounce...