Daily Market Report

GOLDAsian market buyers really like buying gold when the prices drop down into the low $1,600 price area. In overnight trading the Asian commodity markets saw an increase in volume as buyers aggressively purchased precious metals at the current attractive price levels. Speculation of a pending sovereign purchase of metric tonnage of gold also fueled demand. At 11am PDT, Gold...

Today’s news that affected the financial MarketsWhen the minutes of the Federal Reserve’s March meeting were released at 2:30pm EDT yesterday it was clear that it is highly unlikely that we will see another round of monetary stimulus (Quantitative Easing, QE3) from the U.S. Federal Reserve any time soon. The world’s stock markets and precious metals overreacted to this news...

GOLDGold traded today in a narrow range, from $1,666.30 on the low to $1,682.20 on the high. Right now Gold appears to be building a nice base for its next attempt to break above the important $1,700 market level.At 11am PDT, Gold is trading at $1,671.40, down $7.80 per ounce on normal volumes of trading.The Gold Comex net speculative position...

GOLD Gold is back on track and the market price is up $10.40 per ounce this morning. At 11am PDT gold is trading at $1,679.20 an ounce on average volume. As we enter a new month, let’s look back on what has happened since the beginning of the year. With all the volatility in the markets, Gold managed to increase...

GOLDGold is back on the bullish track today as the Euro rose versus the U.S. Dollar today, after euro-zone finance ministers agreed to temporarily raise the lending capacity of the region’s rescue funds to 700 billion euros ($934 billion) from €500 billion. This increase is needed, for Spain, a thorn in the Eurozone’s side at the moment. Fears are growing...

GOLDGold continued to lose ground in Europe and U.S. on Thursday morning on selling pressure caused by a stronger U.S. Dollar and lower crude oil prices, this while many macroeconomic indicators disappoint commodity traders. At one point this morning, gold dropped to $1,644 per ounce on light volume, than we saw many of the professional go long.  At 11am PDT...

GOLD Gold sold off today, at one point reaching $1,653 per ounce, after data showing a smaller-than-expected rise in February U.S. manufactured durable-goods orders lifted the dollar to session highs versus the euro. Disappointing news, as Economists had expected U.S. durable-goods orders to raise 2.9%.  After yesterday’s attempt to break through the psychologically important $1,700 ceiling which proved to be...

GOLDFed Chairman Bernanke’s statement yesterday of the Federal Reserve “accommodative policy” brings up the issue again to QE or not to QE (Quantitative Easing). The Fed is concerned about how the recession in Europe and the high gasoline prices will affect the U.S. economy. Well, the Federal Reserve just talking about additional economic stimulus drove up all precious metals and...

GOLDToday’s weaker dollar combined with higher Oil price caused gold to increase from the start of trading. Demand continues to be strong from Asia and buyers are aggressive with gold under $1,700 per ounce. As of 11am PDT, Gold is up $20.40 per ounce, trading at $1,685.30 on excellent volume.Investors took Chairman Bernanke statements this morning as an indication the...

GOLDYesterday was a key day in the direction of gold and silver over the short term. On negative news gold tested its support level, at one point of the day hit $1627.00 per ounce, then, a rally on a good volume of buying back to $1,648.20 per ounce.  It was a very impressive trading day for Gold, considering the overall...