Daily Market Report

GOLD Today’s report showing record gold imports to China late last year has reassured investors that physical off-take is underpinning the gold market. Mainland China bought 102,779 kilograms from Hong Kong in November, up from 86,299 kilograms in October (19% increase), according to the Census and Statistics Department of the Hong Kong government. China doesn’t publish gold trade data. China...

GOLD A combination of a weaker U.S. Dollar caused by possible progress toward implementing tougher budget rules across the Eurozone, and Gold breaking above its 200-Day moving average, drove Gold higher this morning. A widening of the Chinese trade surplus in December was another positive factor for Gold.  At 11am PDT, Gold is up $21.40 per ounce, trading at $1,633.50...

 GOLD Gold traded in a very supportive narrow range this morning. The low/high was $1609/$1623, a very tight $14 per ounce trading range on excellent volume.  At 11am PDT gold is at $1,612.10, down $6.90 per ounce.  Gold prices lost more than half a percent today. This, after the momentum that pushed prices up 3 percent last week fizzled, the...

GOLD It appears that gold has established a solid trading range in the $1,605 to $1,635 area.  This is an important, and very bullish base building period, which will allow the market to continue its 11 year record of setting new all-time highs every year. At 11am PDT, gold is trading at $1,617.80 per ounce, down $3.60 for the day...

GOLD Gold had an active trading range today, reaching $1,595 on the low side and $1,624.60 was the high of the day. At 11am, PDT the price is trading at $1,622.90, virtually unchanged from yesterday. While the tensions between Iran and the West will continue to bolster gold, as safe-haven interest, the ADP Employment report, released this morning, showed an...

GOLD Gold rose by nearly 2 percent on Tuesday, fueled by a recovery in the euro against the dollar. Adding to the demand for gold are mounting tensions between Iran and the United States over a possible disruption to oil supply, which boosted crude oil futures, and reports that Iran produced its first nuclear fuel rod. European and U.S. precious...

GOLD It’s 2012, and the precious metal professionals, commission houses and floor traders are back and they know a bargain when they see it. Gold, Silver, Platinum and Palladium are all higher on excellent volume. Gold is up $35.84 per ounce from last Friday, and at 11am PDT, trading at $1,602.34 on heavy volume. Gold imports to India, the world’s...