Daily Market Report

GOLD Gold is trading in a very narrow $1,605 to $1,615 per ounce price range awaiting today’s announcement from the Federal Reserve after their two day meeting. At 11am PDT today Gold is trading at $1,608 per ounce, down $4.70 on average volume.   I am really excited to announce that my 2013 Hyperinflation booklet is now complete and has...

GOLD Up up and away for Gold as it tested the $1,600 price level this morning and held. After watching today’s Gold trading, I believe that the $1,600 price level has turned from a resistances level into a support level. Many of the professional commodity traders I speak with have turned bullish on Gold and are now aggressively buying on...

GOLD Gold finally broke above the key $1,600 per ounce resistance level this morning. Earlier today in Asia, Gold traded as high as $1,610 per ounce on news of a radical Eurozone bailout package for Cyprus. This rally was in the face of a very strong U.S. Dollar versus the Euro, which normally is very negative for Gold. Gold needs...

GOLD Gold has tested resistance at the $1,600 level in two of the past three trading sessions. However, with U.S. equities at all-time highs, Gold was unable to break through the psychological level. The yellow metal is now consolidating for another attempt, and is finding support as the U.S. Dollar weakens versus the Euro. At 11am PDT today, Gold is...

GOLD Gold dropped to as low as $1,575 per ounce early this morning after selling off when it reached the important $1,600 per ounce resistances level on Wednesday. Gold’s sell off this morning came after a positive news report that February U.S. retail sales are expanding at their fastest pace in five months. At 11am PDT today, Gold is trading...

GOLD Gold traded in a very tight price range on Wednesday, holding near a 1 1/2-week high hit in the previous session when Germany’s central bank expressed concerns about the euro zone crisis and the European Central Bank’s moves to stem it. Germany’s Bundesbank said the euro zone crisis, which has eased as a result of the ECB’s funding promises...

GOLD Gold moved above the $1,590 per ounce level on the opening this morning, following comments by an ECB official that Eurozone inflation pressures are abating, which is viewed as an indicator of continued monetary easing. Accommodative monetary policies favor Gold as low interest rates encourage investors to put money into precious metal assets. The Gold rally was supported by...

GOLD Gold has traded in a very narrow $8 per ounce price range this morning. The tug of war in the Gold pit continues (see my Weekly Market Report for 3/11 for more details) and Gold is building a strong base. At 11am PDT Today, Gold is trading at $1,579 per ounce, up $1.40 per ounce on average volume.  Physical...

GOLD Gold is surprisingly higher with trading in a narrow price range based on two bearish events. 1) A rally in the U.S. Dollar today, now trading under $1.29 versus the Euro.2) The U.S. government said today that the economy added 236,000 jobs in February – much stronger than the prior month. The unemployment rate fell to 7.7% from 7.9%. A...

GOLD Gold prices slipped on Thursday after the European Central Bank (ECB) gave no clear hints of further monetary easing. Since the ECB had been expected to cut inflation and growth forecasts, many market analysts felt that during the recent meeting the ECB would lower interest rates. At 11am PDT today, Gold is up $1 per ounce, at $1,576 per...