Daily Market Report

GOLD Gold hit a new weekly low of $1,228 per ounce this morning in especially active trading for a Friday, before rallying back above $1,230 per ounce. The bears have control of the Gold market and they have the bulls on the ropes. I look for a turn upwards in the Gold price next week. I believe the bears may...

GOLD Gold moved back above the key $1,250 price level last night, but the bears came back and drove the price back down to $1,234 per ounce. Trading volume has not been very high considering this is a breakdown of a major support level. At 11am PDT today, Gold is down $7 per ounce, trading at $1,239 per ounce on...

GOLD After Gold rallied to $1,258 per ounce in overnight trading, the bears took control in England and sent the price back down to $1,243.80. Considering the increasing volatility in the Gold price I would have expected to see higher trading volume. At 11am PDT today, Gold is trading at $1,246 per ounce, down $5 on average volume. SILVER Silver...

GOLD The gold bears made a move on gold this morning, driving down the price below the $1,250 support level, reach to $1,247 per ounce. At that point volume picked up and gold rallied to back above the $1,250 level. At 11am PDT today, gold is trading at $1,251 per ounce, down $5 per ounce in active trading. SILVER Silver...

GOLD As the U.S. currency soared against the Japanese Yen and the Euro Gold tested its $1,250 support level today, reaching $1,251.30 per ounce. Demand is strong, but the bears have the gold market on the defensive. At 11am PDT today, gold is trading at $1,256 per ounce, down $11 per ounce on heavy volume. SILVER Silver broke down earlier...

GOLD In the face of the strongest U.S. currency versus the Euro, and Goldman Sachs restating their opinion that Gold will hit $1,050 per ounce this year, Gold keeps finding buyers above $1,250 per ounce. This morning’s disappointing August U.S. job’s data was also supportive of the Gold price. At 11am PDT Today, gold is up $1, trading at $1,267...

GOLD This morning the U.S. Dollar increased sharply versus the Euro after the European Central Bank cut interest rates to record lows to stimulate their economies. A very strong U.S. Dollar is a major negative for Gold (as American’s value Gold in Dollars) and Gold quickly fell to $1,264 per ounce, where it found excellent demand. At 11am PDT today...

GOLD Gold bottomed out yesterday at $1,261 per ounce on heavy trading with over 191,000 CME hundred ounce December contracts traded. Today, it’s bargain buying that is giving the Gold price support. At 11am PDT today, Gold is trading at $1,270 per ounce, up $5 on excellent demand. SILVER Silver hit a low of $19.07 per ounce, above the major...

GOLD This morning, the Dollar hit a one-year high against the Euro, based on an improvement in the U.S. Economy and actions by the ECB to weaken the Euro. This caused Gold to break down below $1,280 per ounce on heavy volume (over 100,000 December hundred ounce contracts) and quickly drop to the $1,260 area. It appears that Gold could...

GOLD Gold traded today in a narrow $8 high/low price range, from $1,283 to $1,291 on light volume. With the long holiday weekend many traders want to have no position in the commodity markets. So, today we saw some light selling. At 11am PDT today, Gold is trading at $1,285 per ounce, down $4 on light volume. SILVER Silver sold...