Daily Market Report

GOLD This morning the World Gold Council (WGC) released the official Gold supply and demand numbers for the 1st quarter of 2015. The report showed that investment demand increased to 278.8 metric tonnes from 268 metric tonnes in the 1st quarter of 2014. The WGC report also showed that Gold Exchange Traded Funds (ETFs) increased their holdings by 25.7 tonnes...

GOLD Gold moved back above the key $1,200 per ounce resistance level, reaching a high of $1,219. The move up was based on this morning’s report from the Bank of England. The report stated that Greece is ’Not Complacent’ on its debt and the risk of default is high. European Union data confirmed today that Greece slipped back into recession...

GOLD A weak U.S. Dollar combined with fresh demand has driven the Gold price higher on the Asian markets this morning. Gold reached a high of $1,197.60 per ounce this morning, then light selling came in before Gold reached the important $1,200 resistance level. At 11am PDT today, Gold is trading at $1,194 per ounce, up $10 on better than...

GOLD This morning Gold tested the $1,180 per ounce support level, reaching $1,178.80, then quickly rallied back above it. The Gold price continues to stay in a narrow trading range. At 11am PDT today, Gold is trading at $1,184 per ounce, down $5 on average volume. SILVER Silver, like Gold, is range bound, trading between $16.20 and $16.60 per ounce...

GOLD April’s job increase of 223,000 (bringing the U.S. Unemployment rate to 5.4%) was in line with expectations. Gold quickly rallied $10 on the news and at one point reached $1,195 per ounce on normal light Friday trading. At 11am PDT today, Gold is trading at $1,189 per ounce, up $5 per ounce on light volume. SILVER Silver has been...

GOLD Gold tested the $1,180 level today, dropping to $1,179 at one point as the US Dollar strengthened against the Euro. At that point the bulls came in and Gold has shown good support at the $1,180 level. After seeing this response compared to the last few weeks, I am hoping to see Gold rally back above this important support...

GOLD Gold is trading within a narrow $10 high/low range today, between $1,198 and $1,188 per ounce. Many of the professional commodity traders are looking for news that will give this market some direction. At 11am PDT today, Gold is trading at $1,192, down $2 per ounce, on normal trading volume. SILVER Silver is showing excellent support above the $16.40...

GOLD This morning the US trade deficit for March 2015 was reported. This deficit exploded to $51.4 billion, a six-year high. This was much more than the $41.7 billion economists had expected. The deficit rose by 43.1%, the largest increase in 18 years. This negatively affects the 2015 GDP, and caused Gold to test the $1,200 per ounce level in...

GOLD Weak Chinese economic data, which should be followed by increasing monetary stimulus, has helped Gold move higher this morning in Asia. Gold rallied back into the $1,180 to $1,220 trading area, reaching a high of $1,193 in early European trading. At 11am PDT today, Gold is trading at $1,188 per ounce, up $13 on good volume. SILVER Silver rallied...

GOLD The Gold bears were able to drive the price below the $1,180 support level this morning on light trading volume. At one point the Gold price traded at $1,170 per ounce, then quickly rallied back to $1,175. It’s important that Gold moves back above the $1,180 area on Monday. At 11am PDT today, Gold is down $9 per ounce...