Daily Market Report

GOLD Gold has rallied back above the important $1,300 per ounce resistance level today, trading between a high of $1,324.90 and a low of $1,300.90 per ounce. At 11am PDT today, Gold is up $16.60 per ounce, trading at $1,317.40 on normal volume.   SILVER Silver did finally move back above the $21 per ounce resistance level today, reaching a...

GOLD Gold has traded in a narrow $10 trading range today, between $1,293 and $1,303 per ounce. The bulls in the Gold market are fighting to keep the spot price above the key $1,300 price level. At 11am PDT today, Gold is up $2 per ounce, trading at $1,299 on normal volume.   SILVER Silver could not move back above...

GOLD Yesterday’s $30 decline in Gold was the largest one day loss this year. What does that mean? Despite the fact we are in the summer months, normally a quiet time, it means the volatility in the Gold market is picking up. After Gold’s $90 increase in six weeks, having a 1/3 correction is acceptable, especially if Gold can hold...

GOLD Gold sold off this morning, reaching a low of $1,302 per ounce. We have major support at $1,300 per ounce, while the 100 Day Moving Average is at $1,304. After the recent $90 rally in Gold, it isn’t surprising to have a 1/3 correction, but the clear direction is higher. At 11am PDT today, Gold is trading at $1,306...

GOLD The Gold rally moved higher, closing up for the sixth week in a row. Since May 30th, Gold has increased $90 per ounce (7.2%) on excellent volume and continues to have a positive trader outlook. As for today, Gold has stayed within a very narrow $6 range all day, trading between $1,333 to $1,339 per ounce, showing excellent price...

GOLD Gold broke out this morning, moving above its recent trading range between $1,305 and $1,332 per ounce. At one point in early Asian trading, Gold reached $1,345 per ounce before seeing some light selling. At 11am PDT today, Gold is trading at $1,337 per ounce, up $14 on excellent volume.   Chinese economy coming back strong Chinese exports rose...

GOLD Déjà vu all over again, as Gold continues to consolidate in its new and higher trading range between $1,305 and $1,332 per ounce. This morning, the high/low price range was only $10, from $1,317 to $1,327 per ounce. At 11am PDT today, Gold is trading $1,323 per ounce, up $6 per ounce on average volume.   SILVER Silver spent...

GOLD Gold continues to build a nice base between $1,313 and $1,325 per ounce on average volume. At 11am PDT today, Gold is trading at $1,317 per ounce, down $1 per ounce.   SILVER Silver has been trading above and below the $21 support level, reaching a low of $20.88 and a high of $21.22. At 11am PDT today, Silver...

GOLD This morning, the Labor Department reported that U.S. employment growth jumped in June and the jobless rate closed in on a six-year low. Non-farm payrolls increased by 288,000 jobs last month and the unemployment rate fell to 6.1 percent, its lowest level since September 2008. This news was good for the economy and negative for the Gold price today...

GOLD This morning, the Gold market made its second attempt to break above the $1,332 per ounce resistance level, reaching $1,332.20 before seeing short term profit taking. Considering we are in the summer months, Gold demand has been surprisingly strong. At 11am PDT today, Gold is trading at $1,329 per ounce, up $3 on average volume.   SILVER Silver continues...