Daily Market Report

GOLD Gold rallied early this morning in Asia as the Bank of Japan, under political pressure, followed the lead of the US Federal Reserve and the European Central Bank as it pledged to buy a potentially unlimited amount of government bonds. At 11am PDT today, Gold is up $4.00 per ounce, trading at $1,695.10 per ounce on increasing volume of...

GOLD Gold moved higher today on signs U.S. lawmakers were making progress towards an agreement on raising the country’s borrowing limit to avoid a debt default. At 11am PDT today, Gold is up $5.40, trading at $1,691.10 per ounce on excellent volume. A LITTLE PROGRESS COMING FROM CONGRESS Late Friday, some House Republican leaders said they would seek to pass...

GOLD Today the Gold price is reacting to China’s gross domestic product of 7.8% for last year, the lowest since 1999. In the fourth quarter, growth was 7.9% year-on-year, breaking a streak of seven consecutive weaker quarters. At 11am PDT, Gold is trading at $1,686.50 down $1.60 on normal Friday volume trading. SILVER A move above $32 per ounce for...

GOLD Gold rallied this morning on news of lower U.S. jobless claims, a jump in housing starts and disappointing data on manufacturing activity in the Philadelphia region. At 11am PDT Today Gold is trading at $1,692 per ounce, up $9 per ounce on excellent volume. SILVER Silver reached $31.90 per ounce early this morning before seeing some short term profit...

GOLD Today, Gold is holding above the important $1,680 per ounce price level after last nights Fed statement. Two Federal Reserve officials stated they felt that the U.S. Central Bank’s accommodative policies are appropriate and may even need to be eased further to stimulate the U.S. economy. At 11am PDT today, Gold is trading at $1,683 per ounce, up $0.50...

GOLD The price of Gold was helped late yesterday by Chairman Ben Bernanke’s speech at the Gerald R. Ford School of Public Policy at the University of Michigan wherein he reiterated that the U.S. economy still was not yet out of the woods. This means more quantitative easing is coming to stimulate the U.S. economy. Gold rallied today on a...

GOLD Gold moved higher on Monday after a stronger euro and physical buying from China, while expectations of aggressive monetary easing in Japan also lent support. Gold’s recent trading range has been between $1,650 and $1,680 per ounce. Today, as of 11am PDT, Gold is trading up $1.668 per ounce, up $8 per ounce on excellent volume. China National Gold...

GOLD Although China is on a record pace for Gold purchases this year (see below) in overnight news, China’s consumer price inflation was reported at up 2.5% in December, on an annualized basis—up significantly from the 2.0% reading in November. That news is bearish for the Gold, as it suggests China’s central bank will be less accommodative in its monetary...

GOLD An unexpectedly high Chinese trade surplus has increased Gold demand in Asia, driving up the price in Asian commodity markets over night. At 11am PDT today Gold is up $20.10 per ounce, trading at $1,679.10 per ounce on heavy volume. PRECIOUS METALS UP ON UNBELIEVEABLE GROWTH IN CHINA’S TRADE SURPLUS China’s exports surged in December, blowing away analysts’ expectations...

GOLD Yesterday in late trading, Gold broke out above the $1,655 per ounce level. In early Asian trading Gold is showing excellent demand while holding above the key $1,650 per ounce level on active trading. According to the Hong Kong government, China imported 90.764 tonnes of Gold in November, almost doubled from the 47.478 tonnes in October. During the first...