Daily Market Report

GOLD Gold prices fell a little more than 1% today, as gains in the U.S. Dollar versus a basket of currencies prompted some investors to take some short term profits. What is more important is that today is the third day that Gold has closed above the important $1,300 per ounce level, consolidating its recent gains and confirming this is...

GOLD Gold was up $43 per ounce yesterday, the highest increase in over a year. Demand was very strong and the rally happened in the face of higher U.S. Dollars and lower energy prices. Based on extraordinary physical demand numbers coming from Asia, Gold moved past the technical resistance threshold of $1,300 an ounce. Many speculators, fearing a reversal of...

GOLD Gold is off and running today, breaking the $1,300 per ounce resistance level in Asia early this morning which caused many traders to cover their short positions. Short covering and fresh long purchases have driven Gold to a high of $1,339 per ounce on heavy volume. A number of major factors are responsible for driving Gold higher today. Hedge...

GOLD Gold was higher today as the U.S. Dollar weakened versus the Euro and Yen. This is now the second week in a row that Gold has moved higher, consolidating in the $1,270 to $1,300 per ounce price range. At 11am PDT today, Gold is trading at $1,294 per ounce, up $8 per ounce on average Friday volume. Senators ask...

GOLD Gold reached a low of $1,273 per ounce in Asia this morning. At that point bargain buying stepped in and took the price back above $1,280 per ounce. As the Gold price consolidates in the $1,270 to $1,300 per ounce area we are seeing excellent accumulation and demand particularly in the Asian markets. At 11am PDT today, Gold is...

GOLD In a report to the House of Representatives Financial Services Committee the Federal Reserve Chairman Ben Bernanke said that the central bank anticipates the beginning of tapering bond purchases later this year. That policy will remain accommodative and could change depending on the incoming economic data. The Fed Chairman also said, "With unemployment still high and declining only gradually...

GOLD Gold moved higher today as the U.S. Dollar weakened ahead of concerns about Federal Reserve Chairman Ben Bernanke’s congressional testimony tomorrow. Many analysts expect this testimony could provide clues on the timing of the Federal Reserve’s tapering of monetary stimulus. The Gold market is trading in a very important area. If Gold could breakout above the $1,300 per ounce...

GOLD Gold traded actively today between $1,272 and $1,293 per ounce on excellent volume. As Gold consolidates in the current price range we continue to see strong demand for physical investment products on a global scale. At 11am PDT today, Gold is up $5 per ounce, trading at $1,284 per ounce on average summer type volume. U.S. Mint Gold Sales...

GOLD Gold sold off today, as the U.S. dollar strengthened and professionals took some short term profits. This week we have seen the biggest weekly gain for Gold in nearly two years. After watching Gold rally $66 (5.4%) since last Friday it is important to watch the key $1,300 per ounce resistance level for a breakout. While talking to professional...

GOLD Yesterday the June 18 & 19 Federal Open Market Committee (FOMC) meetings minutes were released to the general public. Those minutes showed that about half of the Federal Reserve’s 19 senior officials felt that they would support ending the central bank’s monthly purchase of $85 billion in bonds by year-end and not any earlier unless the unemployment number, currently...