Daily Market Report

GOLD Today’s White House meeting between the President and Congressional leaders has been seen as constructive by the financial markets and stock, energy and precious metal markets rallied on the news. The possibility of avoiding a fiscal cliff with an agreement which would provide revenue increases, coupled with spending cuts, was accepted by both parties. When the news was reported...

GOLD Gold traded down to $1,704 earlier this morning as result of a strengthening U.S. Dollar versus the Euro. At that point, major demand came into the market and Gold quickly rallied up $10 per ounce. At 11am PDT Today, Gold is trading at $1,714.60 per ounce, down $16 per ounce on heavy volume of trading.   THE BIG MONEY...

GOLD Today’s Gold rally is in the face of a U.S. Dollar reaching a two-month high versus the Euro, British Pound and Swiss Franc, hitting $1.26 to the Euro. The short term resistance level for Gold is $1,735 per ounce, however we hit that level earlier today and quickly sold back to $1,725 per ounce. At 11am PDT today, Gold...

GOLD At 11am Today, Gold is trading at $1,726.40 per ounce, down $4.80 per ounce on average volume of contracts. Earlier this morning, Gold did reach $1,717.60 per ounce on light selling until we saw an increase in demand.  SILVER Silver today is trading in a narrow range $0.72 price range, from a low of $32.10 and a high of...

GOLD Gold has traded in a very narrow $13 range today, from $1,725.50 on the low to $1,738.30 on the high. It appears has the Gold price is consolidating in this range awaiting news that will allow it to test the $1,750 short term resistance level. The U.S. Dollar continues to rally versus the Euro, trading at $1.26 to the...

GOLD On Tuesday (Election Day) the Gold price was trading at $1,687, when information was released that the amount of Democratic early election ballots were much higher than expected, an excellent indicator that President Obama could be re-elected. The Gold market started to move higher, what I would call the Obama Rally, and closed that day at $1,714 per ounce...

GOLD In spite of a much stronger U.S. Dollar versus the Euro, Gold continues higher this morning, braking through its next short term resistance level of $1,727 per ounce. Physical demand for Gold around the globe has picked up since the re-election of President Obama. At 11am PDT today, Gold is up $14.40 per ounce, trading at $1,729.60 per ounce...

GOLD President Obama’s victory last night is very bullish for precious metals prices and negative for equities, as seen in today 300 point drop in the Dow. I believe you will see much higher Gold and Silver prices by year end. Today, Gold is consolidating yesterday’s gains when exit polls and reports of heavy democratic early voting showed positive signs...

GOLD Based on news of a big Democratic turnout and early ballots in the key swing states has caused Gold/Silver to rally sharply today. The rally is based on the belief that this news may result in President Obama’s re-election. I have been saying that the President’s re-election will quickly drive the values of Gold and Silver much higher. Earlier...

GOLD Gold is up today based on increased physical demand and short-covering buying as a reaction to Friday’s heavy price correction. The real focus of this market is tomorrow’s presidential election and economic policies and legislation that will be implemented by the next president. I have provided my input on what I believe will happen if Obama is re-elected or...