Daily Market Report

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...

GOLD Demand continues to grow on the world’s Gold exchanges, with Gold rallying on the open and reaching a high of $1,240 per ounce. At 11am PDT today, Gold is up $10 per ounce, trading at $1,237 per ounce on average Friday volume. SILVER For most of the trading day Silver has managed to stay above the key $20 per...

GOLD Gold has started 2014 with a nice rally due to fresh buying and no more year-end selling. Historically, January has been a good month for precious metals and I see no reason why this month will not show good increases for the Gold price. At 11am PDT today, Gold is up $24 per ounce, trading at $1,227 per ounce...

GOLD The final 5% of 2013’s tax loss and mutual fund selling drove Gold to under $1,200 per ounce in late trading yesterday. The Gold price stabilized around $1,200 per ounce until late overnight trading in Asia and Europe drove it down $20 per ounce. Gold’s price dropped to $1,182 per ounce in about an hour, but quickly rallied back...

GOLD Gold tested the $1,200 per ounce level this morning on respectable volume, and held. I believe 95% of 2013’s tax loss selling by mutual funds to delete Gold from their year-end financial reports has been completed. Tomorrow, we will see very light trading in the commodity pits as trading will be closed early for the New Year holiday. At...

GOLD The low volume of trading continues worldwide in the Gold pits. As Gold trades in a narrow $11 per ounce high/low range it provides no short term direction. Hopefully, on Monday the trading volume of trading will pick up, test support levels, and start a 2014 rally. At 11am PDT today, Gold is trading at $1,214 per ounce, up...

GOLD Gold rallied $12 this morning after a disappointing unemployment report was released. This report showed that first-time claims for unemployment benefits fell to 338,000 in the week ending on Dec. 21st. Economists had forecasted a decline to around 345,000 claims. Although I am happy to see Gold rally, I am disappointed that the trading volumes are very low worldwide...