Daily Market Report

GOLD Gold tested the next resistance level of $1,240 by reaching $1,238 per ounce this morning. This first attempt was driven by a weaker U.S. Dollar and fresh buying, with excellent trading volume that was about double that from yesterday. At 11am PST today, Gold is trading at $1,234, up $36 per ounce on excellent volume. SILVER There was strong...

GOLD Gold wants to consolidate its price, trading in a narrow $12 high/low range today. The high has been $1,200.50 and the low earlier today was $1,188.40. At 11am PST today, Gold is trading at $1,198 per ounce, up $8 from Friday on average volume   SILVER Silver reached a low of $16.16 per ounce this morning before see fresh...

GOLD Today’s report from the U.S. Department of Labor, showing an increase of 321,000 new jobs in November, affected precious metals negatively. The jobs increase puts 2014 on track to be the best year for U.S. jobs since 1999, while keeping the unemployment rate at 5.8%. At 11am PST today, Gold is trading at $1,190 per ounce, down $17 per...

GOLD Gold is trading in a nice $13 range above the $1,200 per ounce support level. A little consolidation after Monday’s high volatility is very healthy for the market. At 11am PST today, Gold is trading at $1,207 per ounce, unchanged from yesterday on average trading volume. SILVER Silver is showing more price support and demand than Gold. At 11am...

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...