Daily Market Report

GOLD Gold calmed down on Friday in thin trading after yesterday’s $26 increase, as many of the world’s major stock markets stabilized, slowing Gold’s rally. Today, Gold traded in a tight $14 price range from $1,384 to $1,398 per ounce. Gold (the safe haven investment) was rallied by a drop in stocks late this week, which Thursday in Europe had...

GOLD Gold rallied today based on the U.S. Dollar falling against the Japanese Yen. Adding to the demand for Gold was the plunge in the Tokyo Stock Market. The volatility in the Gold market continues, as the trading range was over $40 per ounce, with Gold reaching $1,356 per ounce before rallying. Today in the global bullion markets we saw...

GOLD The Gold price took a roller-coaster ride today, first jumping to $1,413.30 per ounce when Bernanke told the Joint Economic Committee of Congress that an end to the current quantitative easing (QE) program could mean a “substantial risk of slowing or ending the economic recovery and causing inflation to fall further.” He said the labor market has improved but...

GOLD Yesterday Moody’s Investor Service reported in a news wire around noon ET that U.S. policymakers must do something about the government debt to avoid a U.S. debt rating downgrade this year. This was one of the contributing factors to yesterday’s Gold rally to $1,385 per ounce, after hitting a low of $1,336 per ounce in Asia earlier. Yesterday we...

GOLD Today we saw a very bullish super reversal day, as Gold hit a low of $1,336 and quickly rallied on very heavy volume to reach $1,397 per ounce. This is a very positive sign that Gold has reversed it short term price direction and is now heading higher. Today we also saw any increase in hedge funds buying Gold...

GOLD On Friday Gold fell for a seventh straight day, its longest losing streak in four years, as speculation that the Federal Reserve may soon rein in monetary easing lifted the value of the U.S. dollar versus other major currencies. The dollar rose, hitting a near three-year high against a currency basket, helped by comments from San Francisco Fed chief...

GOLD Early this morning in Asian/European trading Gold tested and held above the $1,370 per ounce level on heavy volume. Gold is still on the defensive, but we are seeing sizeable demand at these attractive levels. At 11am PDT Gold is trading at $1,387, down $11.20 per ounce on heavy volume. World Gold Council first quarter 2013 in Gold demand...

GOLD This morning Gold fell for the fifth straight session, hitting a three-week low as the dollar strengthened to a six-week high versus the euro after weak euro zone economic growth data. Another negative for Gold was the nonpartisan Congressional Budget Office announcement late yesterday that the U.S. budget deficit will shrink by the end of fiscal 2013 to $642...

GOLD Earlier this morning in Asian markets, many economists cut China’s economic growth forecasts for the coming year. The revised forecasts lowered China’s growth from 8% to 7.8%. This news negatively affected the Gold and Silver prices. This morning Gold tested the key $1,420 per ounce level and held. To become short term bullish, we need to see Gold break...

GOLD Gold opened lower this morning in the Asian markets and found substantial buying at the $1,424 per ounce level. Sales of ETF paper Gold holdings continue to drive holdings lower, while physical demand for Gold investment products continues to increase. At 11am PDT today, Gold is trading at $1,436 per ounce, down $3 from last Friday’s price. World’s largest...