Daily Market Report

Category

  1. Daily Market Update 2/10/11

    Gold closed at $1,360.50, virtually unchanged; Silver at $30.13, down 3 cents on light volume.As the World and its commodity markets wait to hear news out of Egypt, precious metals have traded in a narrow range. Today’s news that affects the precious metal prices: European Central Bank is taking aggressive actions to support the Portuguese debt crisis. The U.S. Dollar...
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  2. Daily Market Update 2/9/11

    After yesterday’s break out rally in gold and silver, today’s action was quiet while consolidating the gains. Gold closed at $1,361 down $2 for the day, and Silver closed at $30.16 down $.14 on light trading.A weaker Dollar, and Ben Bernanke downplaying the U.S. inflation risk in Congressional testimony, added to the support of precious metals trading.Today’s Important News: Global...
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  3. Daily Market Update 2/8/11

    Up Up and Away, a little earlier than I had anticipated but all four precious metals broke out today and are off and running.  Gold closed at $1,363, up $12; Silver closed at $30.30, up $.90; and Platinum and Palladium were each up $15. We are seeing heavy demand for precious metals primarily from Asia, and with renewed concerns about...
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  4. Daily Market Update 2/7/11

    During today’s trading, crude oil prices were lower, the U.S. Dollar & Stock Market was higher, and gold traded higher in a very narrow range.Gold closed at $1,351, up $1 in light trading with volume about half of last week’s levels. I continue to believe that Gold is building an excellent base in the $1,310 to $1,365 range, preparing for...
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  5. Daily Market Update 2/4/11

    Gold’s sharp $30 turn-around on Thursday resulted from two culprits, Ben Bernanke and Jean-Claude Trichet. Both central bank leaders signaled no change to the bank’s low interest rate policy, while acknowledging rising food and energy prices. Today the U.S. Labor Department reported that the unemployment rate fell unexpectedly to 9.0% in January, a 21-month low, as nonfarm payrolls rose by...
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  6. Daily Market Update 2/3/11

    It was a whipsaw day in the precious metal markets today. Gold opened in New York trading slightly higher, then traded down to $1,325. During the Mid-session trading, based on increasing unrest in the Middle East which is highlighted by the ongoing conflict in Egypt, and Ben Bernanke speaking to the National Press Club, the Gold & Silver markets started...
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  7. Daily Market Update 2/2/11

    Gold was lower today caused by a stronger dollar, and an increase in private sector hiring, which jumped by 187,000 jobs in January (the government had expected a 148,000 job increase.) Gold was down $6 for the day, still within the trading range ($1,306 to $1,346). Gold is building an excellent base to support the next move higher. Silver and...
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  8. Daily Market Update 2/1/11

    The Egyptian crisis, and the U.S. Dollar losing value, continue to be the two dominant issues in commodity markets trading.  All four popular precious metals were higher today, with Silver behaving the best. Gold was up $7.50; Silver up $.50; Platinum up $30; and Palladium up $9. During the past four trading days, Gold has created a quadruple top at the...
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  9. Daily Market Update 1/31/11

    Today there was a War in the commodity pits between the buyers concerned about the problems in Egypt worsening and/or spilling over to other Middle Eastern countries, and the chartists who believe gold should hit the 150 day moving average of $1,306 per ounce before the next up rally. Gold closed at $1,329, down $11 on the day. Silver behaved...
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  10. Daily Market Update 1/28/11

    Wow, What a day for Gold & Silver. Gold hit $1,308 and silver traded at $26.65 in overnight metal markets. Then based on strong demand generated by Egyptian civil unrest and rioting over food inflation (17%), unemployment (10%) plus blatant corruption from the ruling party the markets started moving dramatically.  Oil increased $3, Gold rallied $40 and Silver $1.40 from...
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Items 1991 to 2000 of 2003 total

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