Daily Market Report

GOLD Gold is back on track. Over the past year the gold price has been very volatile,  trading from a low of $1,524 per ounce to a high of $1,924, building an extraordinary base for its move over $2,000 later this year.  Now, it just needs the event or announcement that will provide that stimulus to start the rally. At...

Gold After an active week of trading, the gold market is stabilizing today, trading in the $1,650 to $1,660 oz.  If gold can stay above the $1,630 support line on Monday, I would be recommending adding to your holdings.  Right now, at 11am PDT, gold is down $3.80, trading at $1,657.50 per ounce in light volume. The International Monetary Fund...

GOLD After Gold broke below $1,681 per ounce, the 200 Day moving average, stop losses were hit and Gold dropped to $1,634 in late trading yesterday before bargain buyers came in with sizeable demand. Right now I am looking for a little consolidation in the $1,630 to $1,670 per range.  On the way up we need to move above the...

GOLD Gold continues to react negatively to the rally in the U.S. Dollar, and Tuesday’s Federal Reserve policy statement and moderately positive views of the U.S. economy. The Fed’s statement buried any hopes of more monetary easing (QE) in the short term and took away one of the main pillars of support for gold and silver. Remember, this decline in...

GOLD A war is going on in the World’s commodity pits between the gold bulls and bears.  The $1,700 per ounce is the key number. On a rally is the U.S. Dollar and any strong positive news the bears drive gold under $1,700, and on negative news i.e. The Iranian crisis or commodity inflation the bulls take it above $1,700...

GOLD We are seeing gold trading market in a narrow $14 price range today.  I believe, after the past two weeks of high volatility, a base is building around $1,700 per ounce. This would be healthy for Gold’s long term price appreciation. Today, at 11am PST, Gold is trading at $1,701.50, down $8.90 per ounce on normal volume. SILVER Silver...

GOLD With the Greek Debt issue in our rear view mirror, we now can continue our Gold rally.  The procedure by which the European Central Bank (ECB) and the IMF settled this issue is now the prototype for Italy, Spain, and Portugal as their debt problems go crucial. More important, we have gold trading above the physiological support/resistance $1,700 per...

GOLD Gold is in that critical stage right now; on Monday, $1,700 was a key support level and when it broke, Gold dropped quickly to $1,665 (2%) before stabilizing. Now, with gold rallying back up, $1,700 is an important key resistance level to rally above and close, within the next few trading days.  This morning gold hit $1,703, and was...

GOLD Today we saw a rebound in the Gold market. At 11am PST, Gold is up $10.20 per ounce, trading at $1,684.20 per ounce on normal volume. Gold looks oversold after breaking through the $1,700 resistance levels, and the $1,672 200-Day moving technical support average yesterday.  Physical demand for gold coins and bars is relatively stable in India at present...

GOLD Well the bears won last night’s gold battle, taking gold down to as low as $1,661 per ounce before the buyers got aggressive. The world’s financial markets reaction to Greece threatening to default on any of its bondholders did the trick. Many Greek bondholders are publicly saying they do not plan to take part in this week’s €206bn debt...