Daily Market Report

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...

GOLD Yesterday, the Federal Reserve and its Chairman Janet Yellen updated the nation with their economic outlook. The Federal Reserve felt that it wasn’t the right time to raise interest rates and decided to make the future direction more dependent on economic indicators. They revised targets on unemployment, GDP, and inflation rates to be more conservative. These changes caused many...

GOLD The Gold, Silver, U.S. Dollar, Equity, and Bond markets are all waiting for Chairman Janet Yellen’s press conference today. Within 30 minutes the Fed will report on the state of the economy, followed by a press conference with Chairman Yellen. Gold has been trading in a very narrow $10 high/low range of $1,155 to $1,145 per ounce, awaiting direction...

GOLD The bull/bear war in the trenches of the world’s commodity trading pits continues. Yesterday, the bulls were able to move the Gold price up to $1,163, before selling came in. This morning the bears were able to knock down the price to $1,143, before serious buying appeared. At 11am PDT today, Gold is trading at $1,149 per ounce, down...

GOLD This morning in Asian trading Gold is in a tight $14 high/low price range, from $1,150 to $1,164 per ounce. Many market traders are awaiting any indications from tomorrow’s Federal Reserve meeting on the future direction of its interest rate policy. At 11am PDT today, Gold is trading at $1,155, unchanged from last Friday, on average volume SILVER Silver...