Daily Market Report

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...

GOLD In overnight Asian commodity markets, Gold stayed within a narrow price range, trading between $1,646 and $1,653 per ounce. I am seeing increased demand for physical Gold bullion products. I am on my way to Orlando for the a major rare coin and precious metal convention, and I will have an opportunity to speak with many of my friends...

GOLD Gold reached $1,662 per ounce in overnight Asian trading and when Europe and New York opened, we saw selling that drove down the price to $1,642 per ounce.  At 11am PDT Today, Gold is trading at $1,647 per ounce, down $3.20 per ounce on average volume. SILVER  Silver has been over and under the important $30 per ounce support...

GOLD Late yesterday the minutes of the December Federal Reserve’s Open Market Committee (FOMC) meeting were released. The minutes showed that three governors felt that the latest round of quantitative easing may not be needed past the end of 2013. This news was bullish for the U.S. Dollar, but very bearish for precious metals and the price of Gold dropped...