Daily Market Report

GOLD Gold couldn’t get back above the key $1,250 per ounce level today and technical traders stepped in and shorted the market. The strong Dollar and Stock Market added support to the decline. Gold sold off $20 per ounce before seeing demand increase. At 11am PDT today, Gold is trading at $1,229 per ounce, down $15.50 per ounce on average...

GOLD Gold has traded all day today between $1,241.20 and $1,249.80 per ounce. Gold was unable to break through the key $1,250 per ounce resistance level. This is very disappointing considering it spent most of yesterday trading above $1,250 in U.S. markets. At 11am PDT today, Gold is trading at $1,244.50, down $5.80 on light volume. SILVER Silver got hammered...

GOLD Gold reached a high of $1,255.50 per ounce in early trading today. For most of the trading day Gold has held above the key $1,250 per ounce level.  As I have mentioned many times, $1,250 is an important resistance level and Gold needs to stay above this level to become short term bullish. At 11am PDT today, Gold is...

GOLD After hitting a low of $1,234.50 in Asian trading this morning, Gold traded in a very narrow range in the European and U.S markets. Gold did reach $1,249 per ounce before seeing selling, which took it down to $1,245. At 11am PDT today, Gold is trading at $1,245 per ounce, up $7 on average volume. SILVER Silver hit a...

GOLD Today, with a strong U.S. Stock market, U.S. Dollar, and the 10-year Bond yield higher, Gold could only go lower from the open. I am getting a little disappointed with the lack of carry through in the Gold price during Wednesday and Thursday trading. I really would like to see Gold break above the very important $1,250 per ounce...

GOLD After yesterday’s $30 high/low price range with over 258,000 CME hundred-ounce Gold contracts being traded, today the volatility has calmed down. For most of the day Gold was trading around the $1,240 per ounce level. At 11am PDT today Gold is trading at $1,240 per ounce, down $2 per ounce. SILVER Silver is trading around $17.40 on light volume...

GOLD It appears that a convergence of factors are making Gold look like the ultimate safe haven investment. These factors include shockingly weak economic data from Germany; weak economic data here in the U.S.; another huge sell-off in U.S equities; an enormous rally in bonds (which see the 10-year yield below 2%); another big sell-off in crude oil; and another...

GOLD Gold has traded in a narrow $7.60 high/low price range today ($1,230.80 to $1,238.40) on average trading volume. The Gold market appears to be waiting for direction while trying to build a base. Many traders are waiting for a rally to $1,245 or above to make a short sale, but there is good price support above $1,220 per ounce...

GOLD This morning Gold rallied in Asian trading, reaching a high of $1,237 before rolling into European trading when sellers appeared. At 11am PDT today, Gold is trading at $1,230.30 per ounce, up $8.60 per ounce on average volume. SILVER Silver tried to rally, reaching a high of $17.63 earlier this morning, but couldn’t hold above $17.50. Today’s trading volume...

GOLD Gold traded in a very narrow $8 high/low price range today ($1,217 to $1,225). The bias continues to be negative, considering this week’s very bullish precious metal news from the IMF and Federal Reserve, Gold should be $50 higher. At 11am PDT today, Gold is trading at $1,221.70, down $2.30 per ounce on light volume. SILVER Silver had a...