Daily Market Report

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...

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...