Daily Market Report

During today’s trading, crude oil prices were lower, the U.S. Dollar & Stock Market was higher, and gold traded higher in a very narrow range.Gold closed at $1,351, up $1 in light trading with volume about half of last week’s levels. I continue to believe that Gold is building an excellent base in the $1,310 to $1,365 range, preparing for...

Gold’s sharp $30 turn-around on Thursday resulted from two culprits, Ben Bernanke and Jean-Claude Trichet. Both central bank leaders signaled no change to the bank’s low interest rate policy, while acknowledging rising food and energy prices. Today the U.S. Labor Department reported that the unemployment rate fell unexpectedly to 9.0% in January, a 21-month low, as nonfarm payrolls rose by...

It was a whipsaw day in the precious metal markets today. Gold opened in New York trading slightly higher, then traded down to $1,325. During the Mid-session trading, based on increasing unrest in the Middle East which is highlighted by the ongoing conflict in Egypt, and Ben Bernanke speaking to the National Press Club, the Gold & Silver markets started...

Gold was lower today caused by a stronger dollar, and an increase in private sector hiring, which jumped by 187,000 jobs in January (the government had expected a 148,000 job increase.) Gold was down $6 for the day, still within the trading range ($1,306 to $1,346). Gold is building an excellent base to support the next move higher. Silver and...

The Egyptian crisis, and the U.S. Dollar losing value, continue to be the two dominant issues in commodity markets trading.  All four popular precious metals were higher today, with Silver behaving the best. Gold was up $7.50; Silver up $.50; Platinum up $30; and Palladium up $9. During the past four trading days, Gold has created a quadruple top at the...

Today there was a War in the commodity pits between the buyers concerned about the problems in Egypt worsening and/or spilling over to other Middle Eastern countries, and the chartists who believe gold should hit the 150 day moving average of $1,306 per ounce before the next up rally. Gold closed at $1,329, down $11 on the day. Silver behaved...

Wow, What a day for Gold & Silver. Gold hit $1,308 and silver traded at $26.65 in overnight metal markets. Then based on strong demand generated by Egyptian civil unrest and rioting over food inflation (17%), unemployment (10%) plus blatant corruption from the ruling party the markets started moving dramatically.  Oil increased $3, Gold rallied $40 and Silver $1.40 from...

Based on yesterday’s trading activity I guess I jumped the gun in regard to the correction in Gold & Silver.Based on Europe’s central bankers stating that key central banks are committed to keep inflation at bay, andcrude oil hitting a fresh seven-week low, Gold & Silver continue their price corrections. Gold closing at $1,315 and Silver at $26.95 an ounce. ...

Great day for precious metal owners! Gold, Silver, Palladium and Platinum opened lower and closed on or near the highs for the day. All precious metals were substantially higher today on the following bullish news… First, The Congressional Budget Office stated the 2011 deficit was going to be $1.5 trillion and projected the 2012 deficit would be well above $1...

Gold and silver rallied in the morning based on excellent overnight demand from Asian and European markets. Prices fell off in late New York trading after Oil declined $1.45 a barrel and buying switched to the equities markets.  Gold and silver are still holding within their trading ranges and with the Chinese New Year starting next week, which historically has...