Daily Market Report

GOLD I am really having a difficult time understanding why Gold sold off 1% today, with what is happening around the world. This could just be a temporary setback, because historically, Gold increases when geopolitical crises and wars are happening. $1,285 per ounce is an important support level and Gold hit a low of $1,281 this morning. At 11am PDT...

GOLD During today’s trading, Gold has fallen below the $1,300 support level, while struggling to stay above the 50-day moving average at $1,294. Yesterday, more economic sanctions where placed on Russia, but this did little to support Gold and even though geopolitical tensions remain very high, Gold is beginning to feel a bit tired and vulnerable to test the $1,285.00...

GOLD Gold reached $1,312 earlier this morning before seeing selling. That selling took the price down to $1,295 before bargain buyers appeared. The $1,300 per ounce support level war continues between the bulls and the bears increasing the trading volume. At 11am PDT today, Gold is trading at $1,299 per ounce, down $4.50 on better than average volume.   SILVER...

GOLD This morning I am seeing some price consolidation and bargain buying in the world’s Gold markets. There were no major, markets-moving developments on the geopolitical front over the weekend. Today, Gold tested the $1,300 per ounce support level by reaching $1,301.40 before rallying. Gold traded in a very narrow $8 High/Low range while building a strong base for the...

GOLD Gold trading volume is surprisingly high for a Friday, but with Gold moving back above the $1,300 resistance/support level it’s a good sign. Demand for Gold is primarily coming from the U.S. commodity markets. At 11am PDT today, Gold is trading at $1,302 per ounce, up $12 per ounce on excellent volume.   SILVER Silver moved higher today, following...

GOLD Someone sold a large quantity of 100 ounce future Gold contracts on the open of the U.S. commodity markets today. This increased today’s CME trading volume to roughly double yesterday’s volume. At 11am PDT today, Gold is trading at $1,290 per ounce, down $15 per ounce on heavy trading volume.   SILVER Silver followed Gold down this morning, reaching...

GOLD Gold continues to build a base in the $1,303 to $1,312 support level. A narrow price trading range is healthy for Gold while it consolidates above the support level. I read a great article yesterday on the real meaning of what China is going to do with the massive Gold holdings it has been accumulating. I have attached the...

GOLD This morning, Gold tested and held above its $1,300 per ounce support level, reaching $1,302 before sizeable purchasing hit the U.S. Gold markets on increased trading volume. After last week’s massive sell orders and $30 decline, Gold needs to consolidate above the $1,300 per ounce level, and that is what it is doing. At 11am PDT today, Gold is...

GOLD After last week’s high volatility in the Gold price, it is nice to see some stability come back into the Gold pits. Today, Gold had a $10 high/low price range on trading volume, less than any day last week. Gold traders are looking for some consolidation in the market between $1,300 and $1,330 per ounce. At 11am PDT today...

GOLD A combination of the Malaysian Aircraft being shot down over Ukraine and the Israeli forces moving into the Gaza Strip has heightened Geopolitical concerns, which drove up precious metal prices yesterday. Gold had successfully rallied back above the $1,300 resistance level on Thursday before the news was released, which drove up the Gold price another 1%. Today, at 11am...