Daily Market Report

GOLD Gold traded in a narrow range today, consolidating for its next attempt at the important $1,300 per ounce resistance level. For most of the day Gold trading stayed in the $1,260 to $1,265 per ounce range, reaching an inter-day high of $1,272.60. At 11am PST today, Gold is trading at $1,264 per ounce, up $1 on average trading volume...

GOLD Gold tested the $1,250 per ounce support level this morning, reaching a low of $1,255 at one point. Major buying appeared at that price and Gold rallied into the mid $1,260 level. Gold continues to consolidate its January rally while trading in the $1,250 to $1,290 area. At 11am PST today, Gold is trading at $1,263 per ounce, down...

GOLD Gold has traded between $1,266 and $1,283 per ounce today. The Gold price is establishing an excellent base above the key $1,250 per ounce support level. After speaking with many professional traders and looking at the extraordinary demand, I feel Gold will break back above the $1,300 per ounce resistance level very soon. After a short period of consolidation...

GOLD The U.S. GDP numbers were released today and showed that the U.S. economy only grew 2.6% in the final three months of 2014. This growth rate was slower than had been forecast. The preliminary U.S. GDP was expected to show the growth rate only slowing to  3% in Q4, compared to the 5% GDP recorded in Q3 2014. Gold...

GOLD Gold was hit with heavy short term selling this morning. The heavy selling resulted from news of Germany falling into a deflationary cycle, Denmark cutting its interest rates for the third time in 10 days, and the U.S. labor department reporting that jobless claims fell to the lowest level since 2000. At 11am PST today, Gold is trading at...

GOLD Gold traded in a narrow $10 high/low price range today, from $1,284 to $1,294 per ounce. I believe today’s trading is an excellent sign that Gold continues to consolidate its recent gains, while building an excellent base for its next move to the $1,300 per ounce resistance level. At 11am PST today, Gold is trading at $1,286 per ounce...

GOLD Gold rallied this morning moving towards the key $1,300 per ounce resistance level. Gold reached a high of $1,297 per ounce today, with trading ranging from $1,288 to $1,294 most of the day. At 11am PST today, Gold is up $13 per ounce, trading at $1,293 on respectable volume considering the eastern snowstorm. SILVER After hitting a low of...

GOLD Gold attempted to break above the key $1,300 per ounce level this morning, reaching $1,299.50, but was unable to find the needed demand and then short term selling appeared. Gold found excellent support at $1,275 per ounce and began to consolidate. The $1,300 per ounce level is very important to the Gold rally, so what I would like to...

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...