Daily Market Report

GOLD A very nice week for Gold investors, with the price reaching a 5-month high of $1,308 per ounce. Today, Gold traded between $1,284 and $1,302 on excellent trading volume for a Friday. The price of Gold needs to consolidate its recent gains, allowing time for fresh buyers. What is truly amazing is the fact that the U.S. Dollar is...

GOLD The European Central Bank finally made their quantitative easing announcement this morning. ECB President, Mario Draghi, launched a major government bond-buying program today, pumping 60 Billion Euros per month of new money into a sagging Euro-zone economy. This program is scheduled to end in September of 2016, which will create over 1 trillion freshly printed Euros. What did the...

GOLD Gold broke above the important $1,300 per ounce resistance level earlier today, reaching $1,305 per ounce. Physical demand for Gold investment products remains strong worldwide. Today, the word for Gold on the trading floor is consolidation. At 11am PST today, Gold is trading at $1,293 per ounce, up $1 on excellent volume. SILVER Silver is this year’s star performer...

GOLD The bullish upward move in the Gold price continues, testing the very important $1,300 per ounce level today. Gold reached $1,297.40 per ounce this morning, before seeing some short term profit taking and/or fresh shorting. The Gold bears are definitely on the run, with heavy margin calls being sent out this morning. Part of today’s rally was short covering...

GOLD Wow, the U.S. Dollar continues to rally versus the Euro (trading under 1.13 to the Dollar) and Gold continues to move higher, on its way to $1,300 per ounce, the next major resistance level. Gold firmly moved above the key support level of $1,250 per ounce today, reaching a high of $1,282 earlier today, on excellent volume. At 11am...

GOLD Gold reached $1,267 per ounce this morning (a 4-month high) after a surprise move by Switzerland to abandon its 3-year cap on the Franc. This action sent global shares and bond yields into turmoil. The Swiss Central Bank’s move triggered a flight to safety and caused the Euro to drop to under 1.14 Euros to the U.S. Dollar. This...

GOLD What is truly amazing about this year’s $50 rally in the Gold price is that it is happening in the face of a collapsing oil price and with the U.S. Dollar trading near a 7-year high. In past years Gold would sell off as the U.S. Dollar rallied versus other world currencies. History has shown us that a higher...

GOLD Gold hit a high of $1,245 per ounce in early trading before some short term profit taking and an increase in the value of U.S. Dollar took the price down $10 per ounce. Demand remains strong and I am seeing excellent professional support at the $1,230 per ounce level. At 11am PST today, Gold is trading at $1,234 per...

GOLD This morning Gold opened higher and kept moving up on fresh demand. Global physical demand for Gold remains very strong with today’s announcement that China purchased a large quantity of Gold at the end of 2014. (see article link below) Chinese buy 29 tonnes of gold in last 3 days of 2014.  At 11am PST today, Gold is trading...

GOLD Gold stayed in a tight trading range most of the day as the U.S. continues to stay strong at $1.16 to the Euro. Gold trading today ranged from $1,210 to $1,220 per ounce on average volume. At 11am PST today, Gold is trading at $1,218 per ounce, up $9 on average trading volume. SILVER Silver continues to show sizeable...