Daily Market Report

GOLD Recently, the value of Gold has been dramatically affected by economic news and reports. Negative news has pushed the Gold price higher, while positive U.S. economic reports have caused Gold to drop. WHY? The feeling of many professional traders is that it is all about the future direction of the Federal Reserve in regards to its monthly $85 billion...

GOLD This morning the Asian precious metal markets gave support to Gold at $1,215 and Gold quickly jumped back above $1,220 per ounce. During most of today’s Gold trading, it stayed between $1,218 and $1,226 per ounce on active trading. At 11am PDT today, Gold is down $2 per ounce, trading at $1,222 on average volume. SILVER Silver continues to...

GOLD Gold futures dropped more than $20 an ounce today as monthly data in our manufacturing sector came in better than expected, supporting the prospects for a pullback in the Federal Reserve’s monthly $85 billion bond-buying program. At 11am PDT today, Gold is trading at $1,224 per ounce, down $26 from the Friday close on heavy volume. SILVER Silver dropped...

GOLD This morning Gold is trading in a very narrow pre-holiday price range on light volume. There has been no significant news released today that would affect precious metal prices. At 11am PDT today, Gold is trading at $1,239 per ounce, down $4 per ounce on light volume. SILVER Recently the Silver price has been weaker than Gold, trading down...

GOLD Gold reached $1,255 per ounce earlier this morning on short covering and fresh demand before selling off. Gold needs to stay above the important $1,250 per ounce price level to encourage professional traders to take new positions. At 11am PDT today, Gold is trading at $1,243 per ounce, unchanged from yesterday on excellent volume. SILVER As Gold broke above...

GOLD Based on Iran’s nuclear agreement announced over the weekend, Gold reached a low of $1,225.80 per ounce this morning. At that price we saw heavy demand and the Gold price quickly rallied back above $1,240 per ounce. The short term direction is still to the downside, and it’s highly possible Gold could reach major long term support of $1,200...

GOLD After Gold’s drop below the $1250 level it’s been surprisingly calm trading in the mid $1240’s for the last 48 hours. Volume has increased during the past few days as fresh buying enters the market at these attractive levels, which has helped stabilize the market. At 11am PDT today, Gold is up $0.70 per ounce, trading at $1,244 per...

GOLD The Federal Reserve October policy minutes that were released yesterday showed a possibility that they may be reducing the $85 billion monthly stimulus program within a few months. This was considered negative for Gold, and Gold sold off sharply. Gold found great support and demand this morning after reaching $1,236 per ounce. At 11am PDT today, Gold is trading...

GOLD Gold dropped to $1,255 per ounce this morning as investors awaited the release of the minutes of the Federal Reserve’s October policy meeting later in the day, hoping for clues on when it will trim its monetary stimulus program. At that point, demand increased and the market quickly moved back above $1,263 per ounce. It appears as the Gold...

GOLD Gold is trading today in a very thin $10 High/Low price range, awaiting any news that would provide direction. Gold has major long term support at $1,250 per ounce and resistance at $1,300 per ounce, and is trading right in the middle of that range. Tomorrow’s release of the Federal Reserve’s October meeting minutes could give the precious metal...