Daily Market Report

GOLD This morning’s strong U.S. Dollar versus the Euro and Yen, plus weaker demand for physical Gold, has resulted in a drop of $14 per ounce. Signs of progress in the Greek debt negotiations also put pressure on the Gold price. At 11am PDT today, Gold is down $17, trading at $1,185 per ounce on light volume. SILVER This morning...

GOLD Gold has traded today in an amazingly tight $6 high/low price range. I hope that Gold will continue to stay above the important $1,200 next week. At 11am PDT today, Gold is trading at $1,202 per ounce (unchanged from Thursday’s close) on Friday type trading volume. SILVER Silver tested the important $16 per ounce level this morning, reaching a...

GOLD Yesterday the Federal Reserve governors decided to keep the central bank’s benchmark short-term interest rate near zero. They decided not to make what would be the first increase since 2006, after determining the economy still isn’t strong enough to handle an increase. Fed officials also sharply downgraded their economic forecast for this year. They projected the economy would grow...

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...