Daily Market Report

GOLD At 11am PDT, Gold is trading at $1,776.60, down $5.50 per ounce on normal volume for a Wednesday. This morning, Asian markets were selling off on record high rates for PIIGS country bond rates and fears that the Eurozone debt problem will spread and cause a serious financial crisis. Major pro-gold hedge fund managers such as George Soros, David...

GOLD Gold sold off $10.60 this morning over disappointment from not hearing any positive news coming out of Cannes, France, where the Group-20 leaders are meeting. Another poor Jobs report was released by the Labor Department today, showing the unemployment rate at 9.0% for the month of October. At 11am PDT Gold is trading at $1,753.90 per ounce on light...

GOLD The interest rate cut by the European Central Bank today started a gold rally in Europe this morning, which continued into U.S. trading. As of 11am PDT today, gold is trading at $1,764.50, up $30.40 per ounce on excellent volume. Chairman Bernanke has positioned the Federal Reserve to launch a QE3 program within the next few months. The Federal...