Daily Market Report

GOLDGold closed today at $1,494.70, up $0.60 an ounce on light trading. The global demand for physical gold over paper backed gold continues to grow. Worldwide Investors abandoned gold exchange-traded funds in the first quarter in favor of coins and bars. This buying of physical gold investment products helped lift overall bullion demand by 11 percent. The World Gold Council...

GOLDGold was up $9.70 an ounce today, closing the day’s trading at $1,494.10 on average volume.  Gold did benefit from increased buying overnight in India and China, supported by higher Crude Oil and equities prices in the world’s financial markets.   SILVERSilver ended the day’s trading at $35.02, up $1.06 an ounce and above that important $35 barrier. Legendary investor...

GOLDGold, with active trading, ended down $10.20, closing at $1,484.40 an ounce. Like yesterday, most of the news affecting the precious metal markets was the strength of the US Dollar and the weakness in Crude Oil and other commodities.  Early in the trading session gold hit $1,471, but sizeable buying came in and moved the market higher. It’s been reported...

GOLDGold closed at $1,494.80 an ounce today, up $0.60, today on normal trading volume. The overnight markets showed support based on a weaker dollar, ranging from a low $1,486 to a high of $1,505.  Demand for physical Gold is very strong with the U.S. Mint reporting sales of 85,000 ounces of American Gold Eagles since May 1.  The on-going fight...

GOLDGold closed today at $1,494.20, down $8.10 an ounce for the day on light trading. Look for a test of the $1,500 area in Asia on Monday, based on the direction of the US dollar. The two issues that are effecting the movement in the Gold market today are: the strength or weakness of the US Dollar, finally closing near...

GOLD Gold closed at $1,502.30, down $2.90 for the day. Gold sold off with Silver overnight in Asia, reaching $1,483 at one point.  Gold continues to show strength at $1,500 and rallied back. The World Gold Council (WGC) released the World Official Government Gold Holdings as of May 1, 2011. Ten different Central Banks have replaced U.S. Dollars in their...

GOLDGold closed down $10.40 an ounce closing at $1,505.20, showing excellent support and buying at the $1,500.00 area. In the face of an 8% decrease in the Silver price today, gold was down less than 1%. There was bullish news today on gold. Hal Lehr, Deutsche Bank’s managing director for cross-commodity trading, said in an interview in Buenos Aires that...

GOLDGold was up $9.80 for the day, closing at $1,515.60 on active trading. After the recent correction in Gold from the high of $1,577 to the intra-day low of $1,462, it’s important that Gold build the base in the $1,500 to $1,525 price range.  Although Silver took the wind out of Gold’s sails last week, the long term picture continues...

GOLDGold, in very active trading closed at $1,505.80, up $20.80 on the day. Last week’s correction in gold was definitely an over-reaction to Silver’s 27% decline. The fundamentals for Gold’s continued bull market move higher are far better than the more volatile Silver market. This morning, Asian trading had major buying on heavy volume in their Gold markets.  The recent...

GOLDGold closed today at $1,485, up $3 on the day, however in the past 24 hours gold has traded from $1,462.50 to $1,497.70. It is widely felt by precious metal professionals that yesterday’s dramatic drop in the Gold price was overdone, and we saw heavy buying in the $1,480 area in Asia overnight.  There is a commodity trader’s expression referring...