Daily Market Report

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...

GOLDAt 11am PDT, Gold is trading at $1,642.00 per ounce down $0.80 per ounce on average volumeGold prices had little change on Thursday, hovering around $1,640 to $1,650 an ounce level. Investors weighed recent improvement in the U.S. economy against the continuing shrinkage of Chinese manufacturing activities.India’s jewelers, who are protesting a hike in taxes on non-branded gold jewelry and...

GOLDAt 11am PDT today gold is trading at $1652.09 up $4.49 per ounce on an average amount of volume.   The following news release confirms all my comments about the movement from paper gold into physical gold.The London Financial Times reported yesterday…Deutsche Bank plans to open a new precious metals vault in London next year, seeking to cash in on booming...

GOLD Gold has consolidated between $1,630 and $1,670 during the past four trading days.  The risk remains on the downside, especially in light of a stronger U.S. Dollar caused by the Italian & Chinese headlines. At 11am PDT, Gold is trading at $1,647.60 per ounce, down $19.60 on sizeable volume. The dollar has benefited from concerns in the market stemming...

GOLD Gold is back on track. Over the past year the gold price has been very volatile,  trading from a low of $1,524 per ounce to a high of $1,924, building an extraordinary base for its move over $2,000 later this year.  Now, it just needs the event or announcement that will provide that stimulus to start the rally. At...

Gold After an active week of trading, the gold market is stabilizing today, trading in the $1,650 to $1,660 oz.  If gold can stay above the $1,630 support line on Monday, I would be recommending adding to your holdings.  Right now, at 11am PDT, gold is down $3.80, trading at $1,657.50 per ounce in light volume. The International Monetary Fund...

GOLD After Gold broke below $1,681 per ounce, the 200 Day moving average, stop losses were hit and Gold dropped to $1,634 in late trading yesterday before bargain buyers came in with sizeable demand. Right now I am looking for a little consolidation in the $1,630 to $1,670 per range.  On the way up we need to move above the...

GOLD Gold continues to react negatively to the rally in the U.S. Dollar, and Tuesday’s Federal Reserve policy statement and moderately positive views of the U.S. economy. The Fed’s statement buried any hopes of more monetary easing (QE) in the short term and took away one of the main pillars of support for gold and silver. Remember, this decline in...