Daily Market Report

GOLD Financial markets in New York are closed today due to Hurricane Sandy. One of the areas already evacuated is Battery Park, where the offices and the trading floor of the New York Mercantile Exchange (NyMex) are located. Gold trading is very light today, taking direction from overnight markets in Asia and Europe. At 11am PDT today, Gold is trading...

GOLD Gold has traded this morning in a narrow $18.50 price range from a low of $1,701.40 to a high of $1,719.90 per ounce. The very important support level of $1,700 per ounce has held well. At 11am PDT today, Gold is trading at  $1,713.00 per ounce, up $0.25 per ounce from yesterday on light volume. THE WORLD’S CENTRAL BANKS...

GOLD Yesterday, Gold traded down to the key $1,700 support level before a statement was released by the Federal Reserve’s FOMC. After a two-day meeting, they repeated the vow to keep rates near zero until mid-2015 and its pledge to keep supporting growth while the recovery strengthens. Remember, low interest rates are very supportive of a higher Gold price. At...

GOLD Gold trades in a tight $1,700 to $1,713 price range in this morning’s trading, while it waits for the Federal Reserve policy statement later this afternoon. At 11am PDT today Gold is trading at $1,701.10 per ounce, down $8.10 in a narrow range on heavy volume.  South Africa’s Gold Fields (the world’s fourth-largest bullion producer) fired 8,500 miners yesterday...

GOLD Gold opened down 1% as the dollar rallied against the euro and stock markets around the world fell on continued fear of a global slowdown. A credit downgrade of five Spanish regions and weak corporate earnings reports added to the downside. At 11am PDT today, Gold is trading at $1,709.20 per ounce, down $17.00 per ounce on heavy volume. ...

GOLD Early this morning I saw Gold trade down to a low of $1,713 per ounce after news that Japan’s exports tumbled 10% last quarter and Japan’s Foreign Minister Maehara is demanding the Bank of Japan provide more stimulus. At that point, Gold demand and volume increased and the Gold market moved higher, reaching $1,729 per ounce. At 11am PDT...

GOLD Gold prices fell today as stock markets weakened and the U.S. Dollar rallied. The financial markets awaited direction after the conclusion of a European Union summit in Brussels. At 11am PDT Today, Gold is down $20.10, trading at $1,722.50 on light weekend type volume. The World Gold Council (WGC) Just Released its Third Quarter Market Summary The WGC concluded...

GOLD Since falling after reaching $1,800 per ounce earlier in the month, Gold has trended lower in six of its last eight trading sessions. Gold found support on Monday at reaching $1,730 per ounce. We are now in a consolidation phase, which could prove to be a good buying level for investors. The $1,800 per ounce level does represent a...

GOLD Gold gained this morning ahead of a summit of European Union leaders and amid speculation that Spain may accept credit from a rescue fund, weakening the dollar. At 11am PDT today, Gold is up $2.40 per ounce, trading at $1,751.70 per ounce on average volume. STRONG PHYSICAL DEMAND FOR GOLD IS ON THE HORIZON Barclay’s head precious metal traders...

GOLD The Gold Market has been higher from the start of this morning’s trading. The market opened in Asia at $1,740 and has been in a thin $10 trading range. We will continue to see increased demand if Gold stays at it’s a price support level. At 11am PDT today, Gold is trading at $1,745.70, up $7.30 per ounce on...