Daily Market Report

GOLD Late Sunday afternoon President Barack Obama and U.S. congressional leaders announced an agreement to cut an initial $1 Trillion from federal government deficit spending and more than $2 Trillion over the next 10 years, while allowing the U.S. debt ceiling to be raised by $2.4 Trillion, making the new ceiling $16.7 Trillion.  After the President’s announcement, as expected gold...

GOLD On the last trading day of July, Gold owners should be very happy. Gold is trading at $1,626.40 at 11am PDT, up $10.50 per ounce for the day and up $138.70 for the month of July. A physical gold investment has shown a return of 9.32% in just one month. Compare this increase to many Gold Mining Stocks and...

GOLD As the pressure builds on Congress to provide Debt Ceiling legislation that would pass both houses and be signed into law by the President, we are seeing higher volume and volatility in the precious metal markets.  Gold has traded in a $19 range today, down $.40 cents at 11am PDT trading at $1,615.90 per ounce.  Keeping gold trading over...

GOLD Gold is trading very actively today with a $21 range, hitting a new all-time high of $1,629.50 earlier this morning. At 11am PDT gold is trading at $1,615.30, down 90 cents an ounce.  The Debt Ceiling Crisis in Washington DC is the primary focus of the precious metal markets.  Repeating the same concerns that happened after the 2008 financial...

GOLD At 11am PDT Gold is trading at $1,616.20, up $2.40 per ounce on average trading volume.  Today the gold market has had a very narrow trading range of only $10.00, as it awaits news from Washington on the debt ceiling.  All I can say after listening to the President Obama and Speaker Boehner speeches last night is that the...

GOLD Sometimes I feel I’m sounding like a broken record saying again “Gold continues to set a new All-Time High”, trading at $1,613.80 per ounce at 11am PDT.  Last night in Asia gold did reach $1,623.40 in active trading. Gold is at all-time highs; the gold mining stocks are down for the day; and many of the popular stocks and...

GOLD Gold is up $12.40 at 11am PDT today, trading at $1,601.40 an ounce on normal light Friday volume. Concerns over negotiations to raise the U.S. debt ceiling is increasing demand for Gold as a safe store of value. House Speaker Boehner stated that “We’re not even close to an agreement” at 8am PDT this morning in the latest update...

GOLD The gold price is down $8.90 trading at $1,589.00 at 11am PDT in very active trading. The gold market is focused on news from the latest Eurozone economic summit, where they are working on a second bailout package for Greece and measures to prevent the spread of sovereign debt problems to other European countries. The latest news appears to...

GOLD After a selloff in Gold late yesterday, following President Obama’s announcement that the Senate’s ’Gang of Six’ has come up with a plan to settle the debt ceiling problem, the gold market is rallying back. Gold dropped to $1,580.00 in reaction to the announcement and today Gold has regained its mojo. At 11am PDT Gold is trading at $1,597.90...

GOLD Gold just missed making it to “Eleven Days in July”... the longest Gold rally I can remember since the 1970’s! Gold ended it’s rally today after ten days in a row.  At 11am PDT going was trading at $1,597.90, down $5.90 per ounce on news of a possible deal made in Washington DC on lifting the Debt Ceiling. India...