Daily Market Report

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...

GOLD As we move out of the summer months and head into the traditional heavy Gold demand period, Gold is moving higher. Starting in September, the Gold jewelry manufactures start acquiring Gold bullion to fill the holiday season demand. Asian Gold jewelry demand is expected to increase over the record 2013 levels. After hitting a low of $1,273 per ounce...

GOLD Wow, today Gold traded with a $7 High/Low range, from $1,280 to $1,287 per ounce. The trading volume was light with very little price volatility. This is very common for the summer months. I expect to see a sizeable increase in trading activity after the Labor Day holiday, as professional traders return back to the exchanges. At 11am PDT...

GOLD We saw some bargain buying in the Gold market this morning from India and China, driving up the price of Gold to $1,290 at one point. The volume is still moderate to low, which is common for the summer months. At 11am PDT today, Gold is trading at $1,284.50, up $6.50 per ounce. SILVER Silver rallied with Gold, reaching...

GOLD For the most part of the day Gold has traded in a narrow $5 price range, from $1,275 to $1,280 per ounce. Gold traded like a typical summer day on light volume with little firm direction. At 11am PDT today, Gold is trading at $1,278 per ounce, down $3 per ounce. SILVER Silver hit a low of $19.26 early...

GOLD Global bargain buyers appeared in the Gold market this morning, driving the price back above $1,280 per ounce. Geopolitical situations around the world, especially in Iraq and Ukraine, have worsened. At 11am PDT today, Gold is trading at $1,281 per ounce, up $5 on average volume. SILVER Silver continues to show excellent support above $19.30 per ounce, hitting a...

GOLD Gold sold off today as Federal Reserve minutes from the Jackson Hole, Wyoming meeting were released this morning. Those minutes show that the Federal Reserve reiterated its current plan to remove stimulus and is considering raising interest rates sooner than most expected. Gold initially sold off $22 per ounce, reaching a low of $1,272 before rallying back. At 11am...

GOLD Gold is holding steady as the market awaits the release of the minutes from the latest FOMC meeting. The burning question from the FOMC report is, "When will the Fed implement its first interest rate rise in many years?" The market is also looking to Friday’s upcoming speeches by Federal Reserve Chair Janet Yellen and ECB President Mario Draghi...

GOLD Gold dropped a bit more again today as the market is currently waiting on a few key indicators to determine its direction. Housing starts in the U.S. reached the highest level in eight months, adding to evidence the U.S. economy is gaining traction. All eyes are on Jackson Hole this week as investors anticipate what Fed Chair Janet Yellen...