Daily Market Report

GOLD & SILVER Precious Metal Markets are closed today in celebration of Good Friday. The markets will be open on Monday.

GOLD It appears that Gold is consolidating in a $1,590 to $1,610 per ounce trading range, awaiting some clear results from the Eurozone on polices to deal with the current financial crisis in Cyprus. We continue to see sizable physical demand for Gold, and selling of ETF paper Gold. At 11am PDT today Gold is trading at $1,597, down $9...

GOLD Today was a very bullish day for Gold owners. Earlier this morning in the Asian markets Gold traded down to as low as $1,590 per ounce on lackluster interest. At that point a major and very aggressive buyer appeared who made a sizable purchase (Central Bank?), rallying the market back above the key $1,600 per ounce resistance/support level. This...

GOLDGold fell below the key $1,600 per ounce support level this morning after Cyprus averted a financial crisis and clinched a last-ditch rescue deal. The European Central Bank is working to calm anxiety that this bailout could have negative implications for other Eurozone countries. At 11am PDT today, Gold is trading at $1,597 per ounce, down $6 per ounce on...

GOLDCyprus reached an eleventh-hour €10bn bailout deal with international lenders this morning that avoids a controversial levy on bank accounts, but will force large losses on big deposits in the island’s two largest lenders. The deal will allow the European Central Bank to keep its emergency lifeline open to Cypriot banks on Monday, preventing a meltdown of the financial sector...

GOLD Today, Gold is trading near a four week high, underpinned by safe-haven demand (on the fear of a potential financial meltdown in Cyprus) which has put bullion on track for some serious price appreciation. If the Cyprus government does not come up with a solution to clinch an international bailout, it faces a collapse of its financial system and...

GOLDAfter Gold trading ended in New York yesterday, the Federal Reserve made an announcement that it would stick to its stimulus plan, and keep its federal funds rate target unchanged at a record low range of 0 to 0.25%. This is good news for Gold in the long-term, as the Fed believes that the economy will see some moderate growth.Today...

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...