Daily Market Report

GOLD After six days of declines Gold finally turned higher this morning on light volume. Gold traded in a narrow $16 per ounce range, $1,273 on the low and $1,289 for the high. Physical demand for Gold investment products continues to grow at a record pace globally. At 11am PDT today, Gold is trading at $1,286 per ounce, up $3...

GOLD Gold was sent lower last with Europe’s improving economic reports. Another negative that caused Gold to move lower this morning was that the holdings in the SPDR Gold Trust, (GLD) the world’s largest gold-backed exchange-traded fund, (Paper Gold) fell on Friday to 917 tonnes, a four-year low. At 11am PDT today, Gold dropped $20 per ounce, trading at $1,283...

GOLD Gold tested the very important $1,300 per ounce resistance level again this morning, reaching $1,297 per ounce at one point. Gold quickly rallied back above $1,300 on good demand. At 11am PDT today, Gold is trading at $1,303 per ounce, down $10 per ounce. SILVER Silver did rally above $20 per ounce this morning, reaching $20.06, before seeing selling...

GOLD Last night, while Asian precious metal markets were actively trading, a rumor came back about a significant increase in today’s official U.S. employment rate. This rumor drove the Gold price down to $1,282 per ounce (breaking the $1,300 per ounce support level) which caused many technical traders to sell and short Gold. Well, the employment number came in at...

GOLD Yesterday was an unusual whipsaw-day in the Gold pits. Gold traded very actively between $1,304 and $1,339 per ounce numerous times after the FOMC statement was released. The Federal Open Market Committee (FOMC) issued a 700-word statement on Wednesday, but all they really needed to say was no changes. The Fed’s policy-making committee voted to press ahead for now...

GOLD A combination of stronger-than-expected second-quarter growth in the U.S. economy and month end profit taking caused Gold to decline today. Gold is closing the month of July up $90 per ounce (7.3%) and continues to look very bullish for August. At 11am PDT today, Gold is trading at $1,313 per ounce, down $15 per ounce on light volume. Collectible...

GOLD Gold traded lower today, as the U.S. dollar rallied versus the Euro ahead of the Federal Reserve’s upcoming policy meeting, amid growing uncertainty over the future of the central bank’s monetary stimulus program. At 11am PDT Today, Gold is trading at $1,325 per ounce, down $3 on light trading. SILVER Today, Silver traded in a narrow 2% range from...

GOLD Gold futures rose today, as we prepare for a heavy schedule this week of central-bank meetings and economic data that could shape the near-term price outlook for Gold and Silver. At 11am PDT today, Gold is up $6 per ounce, trading at $1,328 per ounce on excellent volume. Indian Investors continue to buy Gold at record pace Gold imports...

GOLD The Gold market has now been up for three consecutive weeks, definitely breaking the recent downtrend. In my opinion the bull market in Gold is back and we should continue to see increases on a weekly and/or monthly basis. At 11am PDT Today, Gold is trading at $1,322 per ounce, down $7 per ounce on average volume. CENTRAL BANKS...

GOLD Gold continues to show excellent support above the important $1,300 per ounce level. As Gold consolidates today in the $1,320 - $1,330 price level, it looks very bullish. Physical demand numbers from Asia, Europe and the U.S. are looking very strong. This is surprising considering that we are in the summer, normally a low demand period. At 11am PDT...