Daily Market Report

  1. Daily Market Report 01/30/12

    GOLD Gold trading is virtually unchanged, down $0.60 per ounce at 11am PDT, trading at $1,732.40 per ounce. Gold reached its highest price in more than seven weeks last Friday. Investors awaited the outcome of Greece’s debt deal talks, but slower-than-expected GDP growth within the United States was a minor negative. Gold also got a boost from reports the world’s...
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  2. Daily Market Report 01/27/12

      GOLD In the wake of the Fed’s policy changes on Wednesday, when the Fed indicated that interest rates were going to be held down until late 2014, inflation would not breach 2% but long term rates could climb to 4% or more, gold bolted through $1,700 and quite rightly. And this was not U.S. gold buying as the gold...
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  3. Daily Market Report 01/26/12

    GOLD Federal Reserve Chairman Ben Bernanke said on Wednesday the U.S. central bank was ready to offer the economy additional stimulus after it announced it was likely to keep interest rates near zero until at least late 2014. Wow, what a bullish development for gold and silver owners. The major bull run for Gold and Silver continues with the next...
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  4. Daily Market Report 01/25/12

    GOLD There’s surprising news from the U.S. Federal Reserve. Interest rates are going to be kept at zero to ¼ percent until late 2014 and in turn, caused gold to rally above $1,700 per ounce.  Low interest rates and the high possibility of addition Federal Reserve and European Central Bank monetary stimulus (QE) are very bullish for the price of...
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  5. Daily Market Report 01/24/12

    GOLD Gold sold off from recent highs as talks on a Greek debt swap deal stalled late yesterday. Eurozone finance ministers rejected as insufficient, an offer made by private bondholders to help restructure Greece’s debts, sending negotiators back to the drawing board. At 11am, Gold is trading at $1,668.60, down $8.90 per ounce with light trading.The Chinese Lunar New Year...
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  6. Daily Market Report 01/23/12

    GOLD The gold rally continues on the outlook for a Greek debt settlement that will allow the EU and IMP to provide an additional 130 Billion Euro (US$168 Billion) in loans. Current Greek bondholders will be taking a 60% plus discount and receive new Greek securities. Demand continues to be strong globally and we are now up over $100 per...
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  7. Daily Market Report 01/20/12

    GOLD Gold has been showing excellent support at $1,645 per ounce and resistance at $1,670, and most professional traders are buying on dips and selling into resistance, with very few wanting to be short. At 11am PDT, Gold is trading at $1,664.00 per ounce, up $7.20 per ounce on average weekend trading volume. Today’s report from ICBC (Industrial & Commercial...
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  8. Daily Market Report 01/19/12

    GOLD Over the past 24 hours, gold has been trading in a narrow range. Gold’s low/high spread has been $1,648 to $1,663 per ounce in active global trading. I believe this type of base building is healthy for the market and could last till month end.  The fundamental reasons for gold ownership keep getting better. The IMF is looking to...
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  9. Daily Market Report 01/18/12

    GOLD Today’s IMF announcement about boosting its lending resources combined with reports of increasing demand for Gold in Asia has provided strong demand for gold.  The low/high trading range for Gold overnight has been $1,641/$1,664 per ounce. At 11am PDT, gold is trading at $1,660.70, up $3.20 per ounce on excellent consolidation support.  The price of Gold has recently been...
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  10. Daily Market Report 01/17/12

    GOLD Up, up and away, the 2012 gold rally has started. Seventeen days into 2012, and gold has increased by $90 or 5.5%. At 11am PDT Gold is up $13.30 per ounce, trading at $1,657.50 on heavy volume. Gold prices rose to the highest level in over a month as buyers speculated that slowing Chinese growth may lead to monetary...
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