Daily Market Report

GOLD Today, Gold is holding in the $1,315 to $1,320 area on moderate trading awaiting news from the European Central Bank on the possibility of loosening monetary policies. At 11am PDT today, Gold is trading at $1,316, up $2 per ounce on moderate volume. SILVER Indian demand for Gold was lower than estimated during the biggest Gold-buying festivals of Dhanteras...

GOLD Gold tested the $1,306 lows this morning and held, then quickly rallied back to $1,318 per ounce. We should see sizeable Asian buying on Monday, but for right now many professional traders are just going neutral into the weekend. At 11am PDT today, Gold is trading at $1,314 per ounce, down $9 per ounce for the day. SILVER Silver...

GOLD Gold was trading higher this morning (around the mid $1,350’s) awaiting the Federal Reserve news on U.S. monetary policy. The Fed reported they are continuing their $85 billion in monthly bond purchase program as is, and that the current fiscal policy is restraining economic growth. They also discussed other issues such as the housing and labor markets, but the...

GOLD Gold is trading in a very narrow price range awaiting a statement from the Federal Reserve policy makers meeting on U.S. monetary policy. There was some slight weakness in the Gold price this morning due to strength in the U.S. Dollar. At 11am PDT today, Gold is trading at $1,347 per ounce, down $7 per ounce on average volume...

GOLD Gold traded in a nice tight price range today, from $1,346.30 to $1,362.10 per ounce. $1,355 is an important level that many technical analysts are watching. A close above that level could be very bullish for the Gold chart and could drive the price to $1,400 per ounce on the short term. FOMC meeting is scheduled for Wednesday and...

GOLD Considering this is a Friday, normally a quiet day with a thin trading range, Gold is behaving very well. Gold was able to reach $1,356 per ounce, above the recent $1,350 short term resistance level. I believe, based on any bullish announcement from the Federal Reserve next week we could easily see a major break out. Physical demand for...

GOLD During trading in Asia last night, China, the world’s biggest Gold buyer, reported very positive manufacturing data. Based on that news the Gold market rallied, breaking above the $1,345 per ounce resistance level. Gold continued to rally, reaching $1,352 per ounce on the CME exchange. At 11am PDT today, Gold is up $14 per ounce, trading at $1,347 per...

GOLD Today, Gold is showing excellent consolidation in the current price range, actively trading between $1,329 and $1,342 per ounce. There was no significant bullish or bearish precious metal news today. At 11am PDT today, Gold is trading at $1,333 per ounce, down $7 per ounce on average volume. SILVER Today was an uneventful day in the Silver Market, with...

GOLD The U.S. government announced today that the economy gained only 148,000 jobs in September, well below the expected 180,000 jobs. The official unemployment rate now has fallen from 7.3% to 7.2%. This report continued to show little improvement in the labor market, and confirms that the Federal Reserve is not likely to reduce its current $85 billion monthly stimulus...

GOLD After last week’s $46 rally, Gold is building an excellent trading range in the $1,310 to $1,325 per ounce level. This trading action shows excellent consolidation for Gold, while staying above the key $1,300 per ounce support level. At 11am PDT today Gold is trading at $1,316, down $7 from Friday’s close on average trading volume. SILVER Finally, Silver...