Daily Market Report

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...

GOLD Gold traded this morning in a narrow price range. With only a $7 high/low range today we are seeing Gold consolidate around the $1,670 per ounce price. Trading volume should drop next week as China’s week-long Lunar New Year holiday starts tomorrow. At 11am PDT Today, Gold is down $3.00 per ounce, trading at $1,668 per ounce on very...

GOLD We saw some short term profit taking in Gold after hitting the $1,680 per ounce resistance level this morning. At 11am PDT today, Gold is trading at $1,671, down $5 per ounce on average trading volume. CHINA IMPORTS 834.5 METRIC TONS OF GOLD IN 2012, AN ALL TIME RECORD HIGH It was announced today that Mainland China imported a...

GOLD Gold moved higher this morning on concerns of Eurozone economic problems.  European central bank leadership will have a meeting later this week to discuss the best way to speed up the recovery. At 11am PDT today, Gold is trading at $1,676 per ounce, up $3.50 on light volume. Federal Budget Deficit is Projected to Improve in 2013 The Congressional...

GOLD Gold rallied yesterday and the world’s equity markets declined as European political risk heats up again. As Spain’s Prime Minister Mariano Rajoy was accused of accepting and distributing illegal payments to party members. Rajoy is considered to be a front-runner in the upcoming elections, but now there is an increased amount of uncertainty. Meanwhile, former Italian Prime Minister Silvio...

GOLD Gold opened higher in Asia this morning as the price traded in a tight high/low range of only $14 per ounce. Trading volume should drop later this week as China approaches a week-long Lunar New Year holiday starting this Saturday. Gold has short term resistances at $1,680, and long term resistances at $1,700 per ounce, I believe both of...

GOLD U.S. Department of Labor reported today that in January the labor force increased by 157,000 workers, weaker than in December, when 196,000 jobs were added. The unemployment rate stayed at 7.9% in January. A disappointing jobs report helped drive Gold higher in early trading, reaching $1,680 per ounce. At 11am PDT Today, Gold is up $9.00 per ounce, trading...