Daily Market Report

GOLD This morning in Asia, Europe and the U.S. we saw strong demand for gold and silver. Gold was up from the opening and reaching $1,594 per ounce during trading. At 11am PDT today gold is trading at $1,587, up $13 per ounce on excellent volume.  Moody’s Downgrades Great Britain’s Debt Moody’s dealt Britain its first sovereign rating downgrade on Friday...

GOLD Gold had an exciting week, dropping $30 per ounce due to margin call selling after breaking through the $1,600 per ounce support level. Gold has found short term support at $ 1,555 level yesterday and has over the over the past two years found long term support at $1,525 per ounce.  Over the weekend we will have Italy’s elections...

GOLD Yesterday Gold dropped $30 per ounce right after the CME commodity exchange opened in N.Y. on rumors that a large commodity hedge fund had been forced to liquidate its holdings. Later in the day the Federal Reserve released minutes from its January 30 meeting, showing our central bank may slow or stop buying the $85 billion worth of assets...

GOLD Gold fell this morning, reaching $1,566 per ounce at one point, its lowest price in seven months in a move described largely as a reaction to a strong U.S. dollar and technical-chart-related selling. There are additional concerns of an announcement later today by the Federal Reserve of a change in their monetary policy. At 11am PDT, Gold is trading...

GOLD Today we are seeing a war in the world’s Gold and Silver markets between margin call selling and growth in new long term buyers. After a short period of time, Gold should consolidate and build a new base between $1,600 and $1,630 per ounce. At 11am PDT today, Gold is trading at $1,604.25, down $3.75 from Friday’s price on...

GOLD Today was an exciting trading day in the US and European precious metal markets. It appears many of the professionals shorted Gold/Silver on Monday, knowing the Asian markets were closed the entire week for the Lunar New Year holiday. The professional floor traders were able to drive the Gold price under $1,600, and Silver below $30 this morning before...

GOLD Gold traded this morning lower on strength in the U.S. Dollar’s value (versus the Euro) on light demand. Not surprising considering that Asian precious metal markets are closed this week for the Lunar New Year holiday. At 11am PDT today, Gold is down $9 per ounce, trading at $1,635 per ounce on light volume. WORLD GOLD COUNCIL REPORTS ALL-TIME...

GOLD With Asian precious metals out of the picture, closed for the weeklong Lunar New Year holiday, the metals are struggling for direction. Gold traded today between $1,642 to $1,655 per ounce, and at 11am PDT today Gold is trading near the lows of the day at $1,644 per ounce, down $6.50 per ounce on average trading volume. SILVER Silver...

GOLD Today could be a short term pivotal day for the Gold market. Gold broke below $1,640 earlier this morning in European trading, and then sizeable buying appeared to drive the market higher. Considering that Asian precious metal markets are closed for the New Year holiday, I was surprised to see substantial bargain buying of Gold. At 11am PDT today...

GOLD Gold traded this morning as low as $1,644 per ounce as Asian precious metals were closed for the Lunar New Year holiday. The volume of sell orders picked up when Gold broke through the $1,650 per ounce support area. Today’s Gold trading could be the weak hands clean out, which is what we have seen in the past prior...