Daily Market Report

GOLD Four times this year the Gold bears were able to drive the Gold price below the key $1,200 per ounce support/resistance level. In one instance they were able to drive Gold low enough to make a new 2015 low ($1,141.60 on March 17th). In all four instances, sizeable demand appeared on the world’s commodity exchanges and physical markets to...

GOLD One of the primary indicators of the Federal Reserve Governors in determining the direction of interest rates is U.S. manufacturing. This morning, U.S. manufacturers reported activity in March that had slowed for the fifth consecutive month. The ISM’s manufacturing purchasing manager’s index fell from 52.9 in February, to 51.5 in March. The index has slowed every month since hitting...

GOLD Earlier this morning Gold tested the recent $1,180 support level and held, as Gold continues to trade in a narrow range. For most of today’s trading sessions Gold has stayed within the $1,180 to $1,190 per ounce level. At 11am PDT today, Gold is down $3 per ounce, trading at $1,183 per ounce on average volume. SILVER Silver continues...

GOLD A combination of a stronger U.S. Dollar and no escalation of hostiles in the Middle East caused Gold to open lower and stay there most of the trading day. I believe that Gold is consolidating its recent gains in the $1,180 to $1,220 per ounce price range. At 11am PDT today, Gold is trading at $1,186 per ounce, down...

GOLD Yesterday, Gold broke back above the key $1,200 per ounce support/resistance level on excellent trading volume. Over 245,000 CME April hundred-ounce Gold contracts were traded yesterday. This high trading volume is very bullish, and a sign of professional short covering and fresh buying. Gold has traded today between $1,192 and $1,206 per ounce trying to establish a new trading...

GOLD When Gold broke though the $1,200 per ounce resistance level this morning, it quickly rallied $20 per ounce. Gold reached the high of the day, $1,220, before seeing short term profit taking. For most of today’s trading session Gold has stayed between $1,200 and $1,210 per ounce. I would like to see Gold consolidate recent gains and trade in...

GOLD For most of today’s trading Gold has traded in a very narrow $3 high/low price range, from $1,196 to $1,199. Trading volume has been surprisingly above average, considering the narrow range. This consolidation is healthy, and when Gold breaks above the key $1,200 per ounce resistance level it should quickly move up $20 per ounce. Physical Gold demand has...

GOLD Gold tested a recent high of $1,196 per ounce during London trading today as it continues to close in on the important $1,200 level. Gold is holding in a very narrow $1,185 - $1,196 range today and looks good as it consolidates for its next run. At 11am PST today, Gold is trading at $1,194 per ounce, up $4...

GOLD This morning the U.S. Dollar is weaker versus the Euro ($1.07), and Gold continues its bullish more higher with Gold reaching a high of $1,189.60 per ounce. Physical and exchange demand for Gold at the current price level is excellent. At 11am PDT today, Gold is trading at $1,188 per ounce, up $6 per ounce on excellent volume. SILVER...

GOLD For the past three trading sessions Gold has shown excellent consolidation above $1,170 per ounce. This morning Gold is showing excellent demand and has rallied $13 per ounce. At 11am PDT today, Gold is trading at $1182, up $13 per ounce on excellent volume. SILVER Silver reached a high of $16.93 per ounce earlier this morning. At 11am PDT...