Daily Market Report

GOLD Gold started to rally in early morning trading, reaching a high of $1,235.90 before hitting major resistance. Tomorrow’s Federal Reserve Open Market Committee statement should provide short term direction for the Gold price. At 11am PDT today, Gold is trading at $1,229, down $0.70 on light volume. SILVER The Silver price was driven down to $17.05 per ounce this...

GOLD Gold has traded all day in a very narrow $5.10 high/low price range, from $1,227.20 to 1,232.30 per ounce. This week Gold and Silver traders are waiting for news from the Federal Reserve Open Market Committee meeting, which ends on Wednesday. Dubai has now firmly established itself as one of the world’s leading Gold retail destinations. In a recent...

GOLD Gold has traded today in an amazingly narrow $5.90 High/Low range, with a high of $1,234.60 and a low of $1,228.70 per ounce. The Gold market is apparently looking for short term direction. If it breaks down below the $1,200 level, it could easily hit $1,170 per ounce before finding major demand. On the other hand, if Gold can...

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...