Daily Market Report

GOLD In Asia this morning, Gold rallied above $1,433 per ounce as India’s currency (Rupee) made its single largest drop in value versus the U.S. Dollar this year. The Rupee reached 68.80 rupee’s to one U.S. $1 today, compared to 56.75 to a Dollar at the beginning of the year, a 20% drop. India’s citizens love Gold and that’s a...

GOLD Up, up and away for Gold today! Breaking above the $1,400 per ounce resistance level on solid volume caused many of the professional traders to cover short sales. After suffering through the recent decline in prices the bulls now have the Gold market firmly in hand. Talk of a potential Syrian rocket strike has had some short term positive...

GOLD Gold rallied above $1,400 per ounce this morning, reaching $1,407 in Asia but couldn’t hold. At that point we saw short term profiting driving the price back under $1,400 per ounce. At 11am PDT today, Gold is trading at $1,393 per ounce, down $1 per ounce on average volume. Ever since Germany asked for the return of 300 metric...

GOLD A combination of a bullish Chinese manufacturing data report and a drop of 13.4% in July new home sales in the U.S., the largest drop since October 2012, caused Gold to rally sharply this morning. I would expect to see some resistance at the $1,400 per ounce barrier, but as I forecasted earlier this month Gold should be in...

GOLD Early morning Asian trading drove Gold down to a low of $1,355 per ounce. But at that price, consistent with recent demand, we have seen sizeable demand drive the price back above $1370 per ounce. Yesterday there was no clear message about future stimulus provided in the Federal Reserve minutes and Gold & Silver continue to look very attractive...

GOLD Gold sold off this morning on uncertainty over whether or not the U.S. Federal Reserve would begin curbing its economic stimulus. The Federal Reserve’s July minutes were released today with no firm indications on the future direction of their stimulus programs. Therefore, Gold immediately rallied off the day’s lows. At 11am PDT today, Gold is trading at $1,370, down...

GOLD Early this morning the bears were able to lower the Gold price to $1,352 before Asian buying stepped in. The economic problems in India continue to worsen and Gold buying is growing dramatically despite government restrictions. As the Indian currency continues to be devalued against other currencies it is driving the Gold price higher, and creating stronger demand. At...

GOLD Gold is consolidating today in the $1,362 to $1,385 per ounce range. After a $59 per ounce increase last week, I am very happy to see Gold stabilize in the current price range. After a $185 increase in price from the June 28th low, some of the large investment banks and brokerage firms are becoming more optimistic about the...

GOLD Yesterday was the most positive day I have seen for Gold in the past two weeks. Not only was it up $24 per ounce, but it successfully moved above the key $1,300 per ounce resistance level on the highest volume of the week. Today, Gold is holding in a tight price range above $1,300 per ounce. At 11am PDT...

GOLD Gold rallied $23 today on better-than-expected growth in both Chinese exports and imports data which was released this morning. This news eased concerns about the outlook of China’s economy, and raised hope that stabilization there could propel faster growth worldwide. Chinese exports in July rose 5.1% from a year ago, better than the 3% analysts had expected. And imports...