Daily Market Report

GOLD Gold rallied up to $1,289 per ounce this morning before selling appeared, driving the price down $15 per ounce. With U.S. equity markets setting records, the focus of investors is stocks, not precious metals. At 11am PDT today, Gold is trading at $1,274 per ounce, down $14 on average volume. SILVER Silver continues to show a lack of price...

GOLD Gold traded in a thin $11 per ounce high/low range today. There was no significant news released today that would give the Gold price direction, plus being Friday trading was light. At 11am PDT Today, Gold is up $3 per ounce, at $1,288 per ounce on light volume. SILVER Right now Silver is acting as if it will test...

GOLD Our in-coming Federal Reserve chairman, Janet Yellen, testified to congress today and I guess the precious metals markets liked what they heard, as Gold quickly rallied off yesterday’s lows. In-coming Federal Reserve Chairman, Janet Yellen told congress she was prepared to continue the U.S. monetary stimulus program ($85 billion per month) until the U.S. unemployment rate dropped. Yellen’s statement...

GOLD A strong U.S. Dollar versus the Euro has been putting pressure on the price of Gold recently. Recent positive U.S. economic news, plus lower interest rates in the Eurozone countries, has taken the Euro/Dollar exchange rate from $1.38 to $1.34 within the past three weeks. Gold is trading in a narrow range today after reaching a low of $1,265...

GOLD It’s not a good day in the precious metal markets. Gold opened unchanged from Monday’s close but could not stay above the $1,280 per ounce support level, reaching a low of $1,271.30. The volume is a little above average but there was not significant demand from Asia in overnight trading. At 11am PDT today, Gold is trading at $1,273...

GOLD Because of the Veteran’s Day holiday, trading is very thin in the U.S. Gold has traded in a very narrow $9 per ounce price range, from $1,279.60 on the low to $1,288.60 on the high. At one point, Gold tested the $1,280 support level and quickly rallied back above on light volume. At 11am PDT Today, Gold is trading...

GOLD Gold was trading at $1,310 per ounce this morning when the Commerce Department announced that non-farm employment had an increase of 204,000 jobs for the month of October, a sizeable increase over the 120,000 job increase that was expected. Gold quickly dropped to $1,281 per ounce on heavy volume because a jobs increase of that size would allow the...

GOLD The bears took control of the Gold market early this morning after the ECB announced a ¼ point rate cut which caused the U.S. Dollar to rally. The U.S. Dollar increase versus the Euro helped drive the price down to $1,296 per ounce. At that point the bulls came in with massive purchases taking the price back to $1,310...

GOLD Comments from Fed policymaker John Williams, who said the central bank should wait for stronger evidence of growth momentum before trimming bond-buying, helped balance out a surprisingly strong U.S. service sector report, and caused Gold to rally $9 this morning. At 11am PDT today, Gold is trading at $1,316 per ounce, up $7 per ounce on normal volume. Bank...

GOLD Gold continues to decline in a narrow trading range on light volume. I believe we will see a test of the $1,300 per ounce support level within the next 48 hours. I think Gold holding above that support level is very critical to short term trading. At 11am PDT today, Gold is trading at $1,309 per ounce, down $7...