Daily Market Report

GOLD Gold tested its $1,180 support level this morning, reaching a low of $1,175.10 per ounce. Before most major Gold rallies, I normally see a clean out of weak investors holding exchange 100-ounce Gold contracts on margin. This clean out is quick, with high trading volumes, and causes panic stop-loss selling for one or two days. This creates a new...

GOLD Today Gold appears to have rebounded from yesterday’s loss and is now fighting to break the $1,200 level again. Gold continues to consolidate in the $40 trading range from $1,180 on the low, to $1,220 on the high. In the not to distant future I do expect to see Gold break the $1,200 level as physical demand for Gold...

GOLD Gold traded above $1,200 today until the US markets opened, at which time the Bears came in, putting pressure on the market. I suspect this happened as the Eurozone released disappointing data which initially affected the US Dollar. We’re still waiting to see what happens with Greece and what major developments may be on the horizon, but until then...

GOLD Gold traded today in a very narrow $10 high/low price range ($1,193 to $1,203 per ounce). Physical demand for Gold continues to grow as Russia purchases one million ounces in March. Read the article at:www.mintstategold.com/investor-education/russia_currency_wars/. At 11am PDT today, Gold is trading at $1,202 per ounce, up $7 per ounce on excellent volume. SILVER Silver has been above and...

GOLD This morning Gold broke down below the $1,200 resistance level again as the U.S. stock market recoups much of Friday’s big loss. A speech by New York Fed President Dudley, in which he reiterated his stance that he hopes the FOMC will begin raising rates later this year, also put pressure on the precious metal prices. At 11am PDT...

GOLD Gold continues to remain stuck in its recent trading range. Physical demand for Gold investment products has picked up every day this week on the dips, while speculative trader and perhaps producer selling appears on the rallies. It was reported today that U.S. core inflation for the month of March has increased to 1.8%. The Stock Market is down...

GOLD This morning Gold moved higher in Asian trading, reaching a high of $1,209.60. At that time selling appeared and drove the price back under the important $1,200 per ounce level. The traders term for the recent trading activity in Gold is “Range Bound”, because, with a few brief exceptions, Gold has traded between $1,180 and $1,220 per ounce. At...

GOLD After hitting $1,188 per ounce in Europe this morning, fresh Gold buying appeared. The demand drove the price of Gold back above the key $1,200 resistance level. The tug-of-war between the Gold bulls and bears continues, while the price consolidates in the $1,200 area. At 11am PDT today Gold is trading at $1,202 per ounce, up $9 on excellent...

GOLD The Chinese released some negative economic data this morning which drove down the price of Gold, testing support at $1,183.50 per ounce. Gold continues to consolidate in the $1,180 to $1,220 per ounce price range. At 11am PDT today, Gold is trading at $1,193 per ounce, down $7 per ounce on better than average trading volume. SILVER When Gold...

GOLD As the U.S. Dollar strengthened, the price of Gold traded in a narrow $13 high/low trading range. Today, Gold reached a high of $1,209 and a low of $1,196 per ounce on normal trading volume. The $1,200 resistance/support level is important and I expect to see Gold hold that level. At 11am PDT today, Gold is trading at $1,200.50...