Daily Market Report

GOLD Technically, Gold is looking sound. Support is at $1,220, $1,200, and of course what appears to be a double bottom at $1,180/oz. A close above $1,270 could see gold quickly move to test resistance at $1,300 and $1,330. The COMEX Gold stockpile has fallen to new record lows, showing that demand for physical bullion remains very strong. The COMEX...

GOLD Gold continues to stay in a narrow trading range between $1,235 and $1,250 per ounce, building a base for the next leg higher. Late yesterday, the U.S. House of Representatives passed a $1.1 trillion spending plan. This legislation rolls back the recent spending cuts, raises federal workers pay, and increases military spouse’s pensions. This bill, which is expected to...

GOLD Gold traded in a narrow $10 high/low price range for most of the trading session. There is excellent support around the $1,240 level with some bargain buying when it hit today’s low of $1,234 per ounce. At 11am PDT today Gold is trading at $1,240 per ounce, down $5 on average trading volume. Bloomberg Reports on Chinese Gold Holdings...

GOLD Gold is staying within its current trading range between $1,240 and $1,255 per ounce today. It’s important that Gold builds a new base before aggressively moving forward to break the important $1,300 per ounce long term resistance level. A drop in the value of the U.S. Dollar is adding extra support for the precious metal markets. At 11am PDT...

GOLD As many of Wall Street’s financial firms provide negative predictions for Gold this year on CNBC, MSNBC & Bloomberg News, Gold continues to move higher on record demand. Gold has crossed the important $1,250 resistance price level this morning on excellent volume. At 11am PDT today, Gold is trading at $1,254 per ounce, up $7 on excellent volume. SILVER...

GOLD Gold got back on its bullish track this morning with strong physical demand continuing to be reported from Asia and the Middle East. Also, today’s jobs report that the US economy only created 74,000 jobs last month was a positive for Gold prices. Economists had forecast that the US economy generated 197,000 jobs. The unemployment rate fell to 6.7...

GOLD Gold has traded in a very narrow $8 High/Low range today. January is typically a good month for Gold thanks to buyers in China preparing for the Chinese New Year. The New Year in China marks a time for giving, and increasing wealth among the Chinese is making Gold a popular gift this season. At 11am PDT time today...

GOLD Gold declined today as the US Dollar extended gains and a better-than-expected U.S. jobs report boosted the case for the Federal Reserve to slow down their stimulus programs. At 11am PDT today, Gold is trading at $1,224 per ounce, down $8 per ounce on normal volume. SILVER The decline in the Gold price has helped drive down the Silver...

GOLD Since the first of the year, Gold trading around the globe has been moving higher on excellent volume. A combination of strong physical demand and decreasing supplies is making Gold look attractive to professional floor traders. When Gold moves above the $1,250 per ounce resistance level, many commodity professionals will become short term bullish, and when it moves above...

GOLD Today, Gold is holding firm in the $1,230 to $1,245 per ounce price range on excellent volume. Strong physical demand continues to be reported from Asia, especially China, which is helping support current levels. At 11am PDT today, Gold is trading at $1,240 per ounce, up $3 per ounce on strong trading volume. JP Morgan has just sold the...