Daily Market Report

GOLD At 11am PDT Gold is trading at $1,824.30, up $32.50 per ounce on good volume. Gold has traded in a healthy narrow $21 range today with excellent support overnight in Asia.  Gold prices rallied this morning as Charles Evens, President of the Chicago Federal Reserve said that we need to consider further strong easing moves with the labor market...

GOLD This morning Gold saw some profit taking in Asia and Europe from Friday’s run up.  The Gold market dropped down to $1,778 before significant buying appeared.  It looks like gold is trying to establish a $1,750 to $1,850 trading range, which would be very healthy as we approach a very bullish time of the year. Because we have just...

GOLD  Post Jackson Hole speech, we should see Gold continue to build its new trading range. Last night the most active trading month (the December gold contract) hit the $1,800 resistance level before trading back down to $1,770 per ounce.  This week we have seen a new $1,700 to $1,800 trading range for gold. After the extraordinary volatility of the...

GOLD Gold hit $1,701.70 in overnight trading and quickly bounced back to $1,730. It looks like the $1,700 area has major support for Gold.  Building a base in the $1,700 to $1,775 area for the next two to three weeks would be very supportive of the long term market health, while representing good value considering the recent high of $1,912.60...

GOLD Wow, another exciting day for gold investors. From July 22nd when gold closed at $1,602 until August 22nd when gold hit $1,912, gold increased $310 or 19.35%. At 11am PDT today gold is trading $1,765, down $147 per ounce from August 22nd highs, or 6.6%. Remember at today’s price, gold is still up $343, or 24% for the year...

GOLD After increasing six days in a row, and up over $300 in the past month, Gold finally saw some profit taking last night. After breaking above the psychological resistance level of $1,900, gold reached $1,912.60 in Asian overnight trading. At that point, light profit taking hit the market driving gold down to $1,848 before substantial buying appeared.  At 11am...

GOLD Trading at $1,887.80 at 11am PDT, Gold is up $40 on the day in very active trading. Gold climbed to a record high above $1,895 an ounce in New York and London, as concern about slowing economic growth and debt crises spurred demand for bullion as a protection of wealth.   SILVER  Silver reached $44.09 in early trading then...

GOLD It’s starting to feel like the movie Groundhog Day, where every day starts the same way.  Gold continues to move higher, hitting $1,881.40 in overnight trading, another all-time high.  Friday commodity trading is normally less active than during the week and gold trading has been in the $1,837 to $1,866 range for most of the day. Right now at...

GOLD Wow, another new all-time high in gold and the U.S. Stock is down 500 points. I am beginning to sound like a broken record. Gold hit $1,827.80 today and at 11am PDT was trading at $1,819.80, up $27.80 per ounce for the day. The headline news is Venezuela, but Eurozone banking issues have added to the gold buying. Venezuelan...

GOLD Gold continued its move back to $1,800 per ounce today. At 11am PDT gold was selling for $1,792.00, up $10.70 per ounce on active trading. Yesterday’s statements from the meeting between the heads of France and Germany failed to quell Wall Street’s fears about euro zone leaders’ ability to contain the region’s sovereign debt woes. As a result, gold...