Daily Market Report

GOLD Gold has been range bound today in light weekend type trading. The low/high price range for Gold today has only been $11 per ounce for $1,610 to $1,621. At 11am PDT, Gold is trading virtually unchanged at $1,616.20 per ounce, down $0.60 from the same time on Thursday, on very light weekend type volume. Central Bank Gold Buying on...

GOLD Chinese Premier Wen Jiabao was quoted as saying that there is more room to adjust monetary policy and thereby improve the economic outlook in the region.  After the Chinese Premier’s statement was released Gold jumped $10 per ounce to $1,612 per ounce. At 11am PDT, Gold is up $14.20, trading at $1,616.80 on excellent volume. The World Gold Council...

GOLD Yesterday for the 15th time in the past couple months, Gold tested the $1,600 per ounce support level. After reaching $1,590 per ounce we saw heavy demand come into the Gold market and the price quickly rallied back above $1,600 per ounce, closing at $1,601.40. Today, the price of Gold reached $1,607 in the U.S. market, before seeing some...

GOLD Gold turned lower today, after the U.S. Commerce Department said that retail sales rose by a seasonally adjusted 0.8% in July, easily surpassing expectations of a 0.3% increase. This increase was stronger-than-expected and dampened hopes for further easing by the Federal Reserve. After the news was released this morning, Gold sold off to as low as $1,590 per ounce...

GOLD The Gold price drifted lower in quiet summer trading today, but the action should pick up over the next several trading days after the release of several closely watched US data reports and as eurozone government officials discuss the merits of new stimulus programs. At 11am PDT, Gold is down $9.30, trading at $1,612.60 per ounce.  Gold demand is...

GOLD Gold is taking the lead again today; after reaching an early morning low of $1,604.90 per ounce, Asian demand for Gold with good volume drove the market back to $1,628 before seeing resistance. $1,630 is an important resistance level, but when it breaks through very soon the price should move quickly to test $1,700 per ounce.  At 11am PDT...

GOLD Gold rose today after China’s factory output activity unexpectedly slowed in July to its weakest in more than three years, which leaves room for policymakers to adopt a bullion-friendly monetary stimulus policy to meet China’s annual 7.5 percent growth target. At 11am PDT, Gold is up $3.60 per ounce, trading at $1,616.80 per ounce on average volume. SILVER Silver...

GOLD Gold sold off earlier this morning, reaching $1,603 per ounce before rallying back to $1,617 per ounce on excellent demand. Gold staying above the key $1,600 support area continues to be very bullish for a possible breakout very soon. At 11am PDT, Gold is trading at $1,613.20, up $1.40 on excellent volume. SILVER Silver fell to $27.67 earlier today...

GOLD At 11am PDT today Gold is trading virtually unchanged from yesterday at $1,611.80, down $0.60 per ounce on average trading volume. PHYSICAL GOLD DEMAND IS INCREASING South Korea increased its Gold holdings by nearly a third in July, buying 16 tonnes of Gold for $810 million, an average cost of $1,582 per ounce. This purchase is part of South...

GOLD Gold has stayed above $1,600 per ounce for the entire day on excellent demand. At 11am PDT, Gold is trading at $1,612.40 per ounce up $5.20 per ounce on excellent volume.   The Chinese Keep Buying More and More Gold China imported 382.79 tons of Gold from Hong Kong in the first half of the year, up 64.95 tons...