Daily Market Report

GOLD Gold traded today between $1.194 and $1,215 per ounce, finding good support. After Monday’s volatility it is very healthy for the price to stabilize above $1,200 per ounce. At 11am PDT today, Gold is trading at $1,207 per ounce, up $8 on average volume. SILVER Silver traded between $16.22 and $16.60 per ounce today, showing excellent support. At 11am...

GOLD Today the U.S. Dollar strengthened significantly versus the Euro, coming down to $1.22 to 1. The strong dollar helped drive down the value of Gold to under $1,200 per ounce. Considering yesterday’s $80 Gold rally, a small correction would be expected. Gold has traded in the U.S. markets above and below the $1,200 per ounce level for most of...

GOLD Today was truly a classic Intra-Day reversal with Gold bottoming out at $1,141 per ounce and then closing on or near the day’s high, on heavy trading volume. After Gold broke above $1,200 per ounce, all the short sellers began running to cover their positions and the price continued to more higher. Trading volume is at record levels in...

GOLD Today, Gold traded in a very narrow $6 high/low price range, between $1,195 and $1,201 per ounce. The key Gold issue is this Sunday’s Swiss Referendum to increase the Swiss central bank’s ownership of Gold. It appears that the Gold market is discounting the possibility of this happening as more and more polls don’t show the needed support for...

GOLD Gold continues to move above and below the $1,200 per ounce resistance level. Today’s trading was on heavy volume as many professional traders moved out of the December CME Gold contracts and into the February Gold contracts. Gold traded in a $12 high/low range, continuing to build a base for its breakout move above $1,200. At 11am PST today...

GOLD For the past week Gold has been building a base in the $1,200 price area. This morning Gold rallied above the $1,200 price, reaching $1,204.60 before seeing sellers. With the U.S. Dollar trading higher versus the Euro and Yen, it isn’t surprising to see Gold trade in a narrow range. At 11am PST today, Gold is trading at $1,198...

GOLD Gold moved back above the important $1,200 per ounce resistance level again today, reaching $1,207.80 per ounce. This is especially significant considering today’s bullish move in the Gold price was done in the face of a very strong U.S. Dollar: $1.22USD to the Euro; 82 Japanese Yen to $1USD. Gold analysts are now focusing their attention on the timing...

GOLD Gold moved above the $1,200 per ounce, its major long term resistance level, on Tuesday and Wednesday of this week and was beaten back both times. This morning Gold hit at low of $1,176 (mostly because of short selling) before sizeable fresh buying appeared, driving the price back up to $1,196. It appears there is enough demand in the...

GOLD This morning in Asian trading Gold made its second attempt to break above the key $1,200 per ounce resistance level, reaching $1,202.50 per ounce. After hitting today’s high, short sellers appeared when the U.S. Dollar strengthened versus the Yen, driving Gold down to $1,175 per ounce. Gold quickly rallied back to $1,197 on heavy demand and short covering. At...

GOLD Today Gold made its first attempt to break above the key $1,200 per ounce long term resistance level, reaching $1,205 at one point. The price declined due to short selling and profit taking, hitting $1,190 per ounce, where it found good support. A weak U.S. Dollar versus the Euro is helping the Gold price. At 11am PST today, Gold...