Daily Market Report

GOLD Gold has traded in a very narrow $13 range today, from $1,725.50 on the low to $1,738.30 on the high. It appears has the Gold price is consolidating in this range awaiting news that will allow it to test the $1,750 short term resistance level. The U.S. Dollar continues to rally versus the Euro, trading at $1.26 to the...

GOLD On Tuesday (Election Day) the Gold price was trading at $1,687, when information was released that the amount of Democratic early election ballots were much higher than expected, an excellent indicator that President Obama could be re-elected. The Gold market started to move higher, what I would call the Obama Rally, and closed that day at $1,714 per ounce...

GOLD In spite of a much stronger U.S. Dollar versus the Euro, Gold continues higher this morning, braking through its next short term resistance level of $1,727 per ounce. Physical demand for Gold around the globe has picked up since the re-election of President Obama. At 11am PDT today, Gold is up $14.40 per ounce, trading at $1,729.60 per ounce...

GOLD President Obama’s victory last night is very bullish for precious metals prices and negative for equities, as seen in today 300 point drop in the Dow. I believe you will see much higher Gold and Silver prices by year end. Today, Gold is consolidating yesterday’s gains when exit polls and reports of heavy democratic early voting showed positive signs...

GOLD Based on news of a big Democratic turnout and early ballots in the key swing states has caused Gold/Silver to rally sharply today. The rally is based on the belief that this news may result in President Obama’s re-election. I have been saying that the President’s re-election will quickly drive the values of Gold and Silver much higher. Earlier...

GOLD Gold is up today based on increased physical demand and short-covering buying as a reaction to Friday’s heavy price correction. The real focus of this market is tomorrow’s presidential election and economic policies and legislation that will be implemented by the next president. I have provided my input on what I believe will happen if Obama is re-elected or...

GOLD Wow! A combination of Eurozone monetary problems in Greece and Spain, plus a higher-than-expected U.S. jobs report from the U.S. Labor Department has caused the U.S. Dollar to rally sharply versus the Euro and Gold has dropped almost $40 per ounce. The U.S. Labor Department reported today that payroll data showed employers added 171,000 jobs in October versus forecasts...

GOLD Over the past two weeks Gold has consolidated above $1,700 per ounce and that level could act as support in the future. As the Gold price moves higher, I expect to see some resistance at $1,735 per ounce, the 50 day moving average. Right now the precious metal markets are treading water awaiting the results of next week’s presidential...

GOLD After being closed the past four days, Gold rallied today on a weaker U.S. Dollar and positive economic news. The U.S. Third Quarter GDP grew by 2%, higher than the forecasted 1.8%. Higher growth means more inflation which helps the price of Gold. Today’s rally was very impressive, as Gold broke out above the $1,722 per ounce short term...

GOLD Gold has been trading sideways for the past four days in the $1,700 to $1,716 per ounce price range. We need to break above the $1,722 per ounce level to regain the short term bullish trend. At 11am PDT today, Gold is trading at $1,711.50, up $2.20 per ounce on very light electronic and secondary market activity with all...