Daily Market Report

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...

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...