Daily Market Report

The Euro zone leadership is now having its 20th European summit in less than three years. They haven’t yet taken any concrete steps to solve the sovereign nation and banking debt problem. Initially expectations for this summit were very low. It was expected that the financial ministers would make some vague statement about how this is a serious situation and...

GOLD Today, Gold trading has been on the defensive side of the market with the Supreme Court’s ruling, which for the most part supported the Affordable Care Act. This is seen as a major win for the Obama administration, and because of which the stock market, oil and precious metals all have dropped today. Right now Gold is showing resistance...

GOLDGold has traded from the opening gun this morning, moving up in Asia and higher after New York started trading. With the value of the U.S. Dollar higher and energy and equities lower the higher Gold price is surprisingly strong. The European Debt Crisis continues to dominate the news, and the indecisiveness of Euro zone leadership is causing the world’s...

GOLDGold has dropped to the $1,530 area three times in the past seven months and every time that happens, it rallies back up on massive buying, ultimately moving above $1,600 per ounce. I believe this massive purchasing of Gold is being done by central banks, as they have been very active in the Gold market for the past three years...

GOLDGold prices fell sharply Thursday as the U.S. dollar strengthened after the Federal Reserve dashed investors’ hopes of a big stimulus package. The Federal Reserve did announce the continuation of Operation Twist (selling short term bonds while purchasing longer term securities – in order to support the economy) through the end of 2012. Gold reached a low of $1,563 in...

GOLDToday’s Federal Reserve announcement of expanding Operation Twist by $267 billion through the end of 2012 continues the monetary stimulus that is very bullish for precious metals. Many analysts were expecting a QE3 announcement today therefore, the initial reaction on precious metals prices was lower. However, in the Federal Reserve’s statement that groundwork for a QE3 was established and should...

GOLDAfter seven up days in a row we finally saw a little profit taking today. Gold failed to hold above the $1,630 per ounce level and sold off. Buyers are waiting for Fed Chairman Bernanke’s testimony at 9:30am PST tomorrow, before adding to their Gold holdings. Any stimulus from the Federal Reserve is seen as unequivocally bullish for Gold prices...