Daily Market Report

GOLD Gold is trading today between $1,305 and $1,325 per ounce on light volume, waiting for some direction out of Washington or Asia. The Chinese markets open up on Monday and volume and demand should be strong. At 11am PDT today, gold is trading at $1,309 per ounce, down $8 per ounce on average volume. IMF managing director Christine Lagarde...

GOLD Gold tested the $1,300 support level early this morning and held. Gold then quickly rallied back up to $1,320 per ounce on excellent volume. The current government shutdown and congressional problems continues to confirm the basic fundamental reasons for Gold ownership, and should the U.S. default on its debts in two weeks, we should see a sharp rally. At...

GOLD After yesterday’s $40 decline in the Gold price, the market bounced back this morning, reaching $1,323 per ounce. There was no significant news that caused this rally except that yesterday’s decline was not logical. At 11am PDT today, Gold is trading at $1,318 per ounce, up $31 per ounce on excellent volume. SILVER Silver rallied with Gold this morning...

GOLD Technical stops were triggered this morning on the U.S. Gold exchange and Gold broke down dramatically. At 8:00 AM EST, 4,543 lots (454,300 ounces) traded in the active December Gold contract and Gold dropped $9. Then, at exactly 8:30 AM EST, 8,174 (817,400 ounces) lots of Gold hit the exchange as stops went off. Gold fell from $1,310 all...

GOLD Today the Gold price has been as high as $1,344 and as low as $1,323 based on the news coming out of Washington about the possibility of a U.S. government shutdown tomorrow after the Republican-controlled House of Representatives, early on Sunday, passed a measure that ties government funding to a one-year delay of Obama’s landmark healthcare restructuring law. The...

GOLD Today, comments from a Federal Reserve official suggested an $85 billion bond-buying taper could be pushed out to next year causing Gold to rally $12 per ounce. Gold did reach $1,344 per ounce before seeing professional taking profits before the weekend. At 11am PDT today, Gold is trading at $1,337 per ounce up $12 per ounce on average volume...

GOLD Gold opened lower today based on a strengthening of the U.S. Dollar which is due to a better than expected weekly jobless claim report. The Congressional Budget debate and upcoming concerns over raising the debt ceiling is giving support to the Gold price, but the market is range bound. Gold is showing firm support at $1,315 per ounce, with...

GOLD Finally a nice Gold rally! Today, based on reports on increasing central bank Gold buying in August, Gold rallied. At 11am PDT today, Gold is up $12 per ounce, trading at $1,336 per ounce on better than average volume. SILVER Silver traded in a very thin $0.49 range today, between $21.96 and $21.47. At 11am PDT Today, Silver is...

GOLD Based on a lack of Federal Reserve tapering, Barclay’s Bank believes Gold could reach $1,482 by next month. Gold opened lower today, reaching $1,305 per ounce, then rallied on excellent demand to close at the highs of the day. At 11am PDT Today, Gold is trading at $1,324 per ounce, down $2 on the day on good volume. SILVER...

GOLD Gold closed in late trading on Friday at $1,326 and today it has traded within a few dollars of that price. With the congressional debate over the U.S. budget and the legislation to raise the national debt the precious metal markets are focused on Washington D.C. At 11am PDT today, Gold is trading at $1,326 per ounce, unchanged from...