Daily Market Report

GOLD Gold continues to trade above and below the important $1,300 per ounce level. Today, the Gold price ranged from $1,286 to $1,302 per ounce on average volume. The Federal Reserve starts a two-day policy meeting later today and they are expected to reduce its monthly bond purchase program for the fourth time in a row. They are also expected...

GOLD In Asian overnight trading, Gold couldn’t hold above the key $1,300 per ounce price level. Other than the U.S. and European Union slapping new sanctions on Russia, there were no new developments in the Russia-Ukraine crisis. Gold is holding in a narrow $14 per ounce high/low trading range on average volume. At 11am PDT today, Gold is down $3...

GOLD Renewed tensions between Moscow and Western powers over Ukraine have caused Gold to rally this morning, moving above the key $1,300 per ounce resistance level. Today’s rally was very noteworthy considering that Gold hit a 2-1/2 month low of $1,268.24 on Thursday. Depending on what happens over the weekend in Ukraine, Monday could be an exciting down in the...

GOLD Gold sold off in early morning Asian trading, reaching a 3 month low of $1,268 per ounce. Then news of increasing tension in Eastern Ukraine between pro-Russian separatists and Ukraine troops caused the Gold market to quickly turn higher. Today’s trading volume was the highest for the week, as Gold attempts to accomplish an inter-day reversal. Today’s high/low price...

GOLD The news of a weak March U.S. housing market, with the Commerce Department reporting that new homes sales fell 14.5%, helped to support the Gold price today. With Gold trading in the low $1,280’s recently, I am seeing an increase in short covering and bargain buying. At 11am PDT today, Gold is trading at $1,284.50 per ounce, up $2.50...

GOLD Gold extended losses for a fourth straight day as outflows from physical Gold ETF, SPDR Gold Trust, (GLD) reached 792.14 tonnes late Monday, the lowest level since January. Gold wasn’t able to hold the $1,280 support level early this morning, reaching a low of $1,276 per ounce. A 480,000 ounce sell order hit the market this morning, taking the...

GOLD Today, due to the sharp outflows from the world’s biggest bullion-backed exchange-traded fund (ETF) and a stronger dollar Gold, could not rally back above $1,300 per ounce. The Gold stockpile at GLD dropped to 795.14 tonnes, the lowest level since January. After an overnight attempt to rally, Gold has traded down, reaching a low of $1,280 per ounce. At...

GOLD There was a bull/bear war in the Gold trading markets today, between the $1,293 and $1,304 per ounce area. Right now the bears have been able to drive the value below the important $1,300 resistance level. At 11am PDT today, Gold is down $7 per ounce, trading at $1,295.50 per ounce on normal volume.   SILVER Silver traded today...

GOLD In early trading in Asian markets Gold showed excellent support in the important $1,300 per ounce area. Evidences of China slowdown could have been part of the reason that Gold dropped $26 per ounce yesterday. China reported that the March M2 growth has slowed to 12.1%, below the central bank’s target of 13%. Gold could easily move higher if...

GOLD After Gold reached $1,331 per ounce, on mounting tensions over the weekend in Ukraine yesterday, today Gold tested its $1,300 per ounce resistance level. Technical traders sold Gold down to $1,285 this morning, before rallying back to above $1,300 per ounce. At 11am PDT today, Gold is down $26 per ounce, trading at $1,301.50 on heavy volume.   SILVER...