Daily Market Report

GOLD Gold rallied sharply this morning, reaching a six month high of $1,371 per ounce, based on fears of more corporate defaults in China and the continued geopolitical problems with Russia and the Ukraine. With Gold making a solid break above the key $1,350 per ounce resistance level, the next resistance level I am looking at is $1,381. At 11am...

GOLD The Gold price traded very actively between $1,338 and $1,350 per ounce today, as weak Chinese exports data for February caused investors to buy Gold for safe-haven rather than equities. In a sign that confidence in the paper Gold market may be returning amid global uncertainties, SPDR Gold Trust, the world’s biggest bullion-backed exchange-traded fund, saw its largest inflow...

GOLD In early Asian trading this morning Gold sold off, reaching a low of $1,328 per ounce. At that price bargain buyers appeared and quickly rallied the price back to $1,340 per ounce. At 11am PDT today, Gold is up $1 per ounce, trading at $1,341 per ounce on good volume. SILVER Silver hit a low today of $20.59 this...

GOLD The Gold price declined today after the Department of Labor announced that the U.S. economy added 175,000 jobs last month, an increase over January. Economists had been expecting a gain of 150,000 jobs and for unemployment to remain flat. Gold traded today in the $1,328 to $1,353 per ounce price range on light weekend type volume. At 11am PDT...

GOLD Gold rose today as diplomatic efforts in the Ukraine increase safe haven demand for precious metals. The U.S. nonfarm payroll figures are due out tomorrow, which should help gauge the strength of the labor and the implications for the pace of the Federal Reserve’s stimulus reduction. Gold is making another attempt to break and stay above the key $1,350...

GOLD Gold moved up today after weak U.S. data cast doubts over the pace of the economic recovery. The Institute for Supply Management said the U.S. services sector index fell to 51.6 last month, the worst read for the index since February 2010, as bad weather affected business activity. Separately, U.S. private employers added 139,000 jobs in February, below economists&rsquo...

GOLD Gold sold off 1% today on easing of tensions between the Ukraine and Russia. Gold did reach $1,331 per ounce before rallying back on fresh buying. Gold is trading within a tight range, looking for a technical break out. The following are the current technical resistance and support levels. Technical Levels for Gold: Significant upside resistance at $1357/$1361 Gold’s...

GOLD Gold gained around 2% today as escalating geopolitical and military tensions between Ukraine and Russia bolstered demand for precious metals worldwide, while driving down equities and bonds. The Group of Seven major industrialized nations condemned Russia’s intrusion into Ukraine and cancelled preparations for the G8 summit, that includes Russia, scheduled for Sochi in June. Spot and US Gold futures...

GOLD Today was the last trading day for February and Gold continues to move higher, up $81.20 for the month of February and showing an increase of $119.10 since the beginning of 2014. The SPDR Gold Trust (Symbol GLD), the biggest Gold ETF, is set for its first monthly inflow since December 2012, according to a Reuters report on Thursday...

GOLD Yesterday, the Commerce Department reported that January sales of new U.S. single-family homes jumped 9.6% to 468,000 homes surging to a 5-1/2-year high. This news eased concerns of a sharp slowdown in the housing market, causing Gold to drop more than 1%. Today, Gold has been trading in a narrow range as it continues to consolidate in the $1,320...