Daily Market Report

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...

GOLDSunday’s Greek election results reduced Gold bullion’s safe-haven appeal. Gold’s initial reaction was to fall 1% in value, even as the euro hit a one-month high against the U.S. dollar, which would normally support Gold the price. However, after Gold reached $1,607 per ounce it came roaring back on heavy buying to virtually unchanged levels. I am very pleased with...

GOLDGold futures climbed Friday, poised to extend their gains to a sixth session in a row, as the prospect of fresh economic stimulus from the world’s central banks underpinned demand. Today, Gold has traded from a high/low of $1,635 to $1619 per ounce. At 11am PDT, Gold is up $7.20, trading at $1,626.40 per ounce better than average Friday volume.Investors...

GOLDOn Thursday Gold posted its fourth straight session of gains, on active volume, showing excellent demand at the $1,610 support area. The main factors for the past four trading sessions have been the weak U.S. data, leading to expectations of future monetary stimulus, and investors being nervous before a make-or-break Greek election.                The spot Gold price has increased more...