Daily Market Report

GOLD Gold declined this morning in Asia after China’s exports unexpectedly fell in June. Investors wait for the release of possibly negative minutes from the Federal Open Market Committee’s meeting last month amid bets that the U.S. Federal Reserve will begin reducing stimulus. At 11am PDT today, Gold is trading at $1,250 per ounce, up $5 on average volume. SILVER...

GOLD Chinese consumer prices rose 2.7% year on year in June, up from 2.1% in May, and the highest since February. Higher pork prices, a major component of China’s consumer price basket, were the biggest contributor to the jump. Rental costs also edged higher, a reflection of how Chinese property inflation has accelerated this year. This news release spurred heavy...

GOLD Friday’s Gold sell off drove the price down to as low as $1,206 due to the better-than-expected increase of 195,000 jobs in the June report. This beat consensus expectations of 165,000. This morning Gold opened higher in Asia and kept on rallying, reaching a high of $1,238 per ounce. At 11am PDT today Gold is trading at $1,237 per...

GOLD The Gold price has traded between $1,246 and $1,261 per ounce today on average volume. At 11am PDT today, Gold is trading at $1,253.70 per ounce, up $10.30 per ounce. Investors swapping paper Gold for physical Gold is increasing As of June 28, 2013 investors have sold 586 metric tons of paper Gold from their exchange-traded Gold funds since...

GOLD Gold looks to be consolidating its recent gains in the $1,244 to $1,267 per ounce price range. A combination of a strong U.S. Dollar and continued short covering has provided a mixed message for the direction of the market. Trading volume, starting tomorrow, should lighten up as we approach the Independence Day holiday. At 11am PDT today, Gold is...

GOLD Today, Gold moved higher from the opening gun in Asia. Demand is strong and the price reached a high of $1,262 per ounce before seeing any serious selling. There has been a nice increase in open interest in the CME’s Gold contracts today, an excellent sign of new buying. At 11am PDT today, we have Gold up $31 per...

GOLD Yesterday, right after Gold briefly traded below $1,200 per ounce on the New Year CME Market, over 30,000 CME August 100 ounce Gold contracts quickly traded above $1,200 (A combination of professional short covering and new long buyers). In Asia this morning, Gold traded actively under and over $1,200 per ounce, reaching $1,180 per ounce at one point. Clearly...

GOLD Overnight in Asian markets Gold rallied up to $1,245 per ounce before selling hit the market. The normal demand from Chinese and Indian buyers did not appear and the Gold quickly sold off, reaching a low of $1,208. Because of the weakness in the Asian and European economies the U.S. Dollar has been the strongest currency trading, which is...

GOLD Gold prices were sold down to a low of $1,224 per ounce in Asia this morning on fears about the impact of a cash crunch in China. This, along with the projected low Indian Gold demand, has the government restricting banks to make Gold-backed loans in order to curb imports in addition to increasing import duties. The end of...

GOLD Today I saw a lot of major international banking institutions (HSBC, Deutsche Bank, Morgan Stanley, Goldman Sachs and BNP Paribas) lower their Gold and Silver price forecasts. These statements negatively affected the price of Gold and Silver this morning. At 11am PDT today, Gold is trading at $1,278, down $2 per ounce on excellent volume. Central Banks keep buying...