Daily Market Report

GOLD During overnight trading in Asia and Europe we saw some price resistance for Gold over $1,750 per ounce. About the time news came out of Greece having a delay in any settlement with its debt holders and on the terms of the ECU Bailout, causing some profit taking in Gold and the Euro.  Gold has shown excellent support above...

GOLD The buyers are back. Gold opened higher in the U.S. in aftermarket trading and kept on rallying in Asia and Europe, reaching $1,750 after touching a 1 ½ week low of $1,711.29 yesterday. At 11am PST, Gold is up $25.40 from yesterday’s close, trading at $1,748.10 per ounce with excellent volume. Major bullion bank HSBC said it was keeping...

GOLD A strong Dollar versus the Euro (caused by concerns of a pending Greek default) has caused a minor sell off in Gold.  But traders and analysts say gold’s outlook remains rosy as the uncertain global economic outlook will force central banks around the world to keep their monetary policies accommodative. At 11am PST gold is down $16.80, trading at...

GOLD This morning the big news which affected the financial markets was the dramatic increase in January’s Non-Farm worker’s job report. Initially, Gold fell over 1%, and then rallied.  At 11am PST, Gold is trading at $1,739.50 per ounce, down $18.90 per ounce on active volume for a Friday. Today, the Labor Department reported that the U.S. economy created 243.000...

GOLD Gold is still in rally mode and as of 11am PDT, is up $13.20, actively trading at $1,756.20 per ounce. The next minor resistance levels are at $1,765 and $1,780, with a major resistance level at $1,800 per ounce. The International Monetary Fund announced that Turkey added about 500,000 oz of gold to its reserves in the month of...

GOLD Gold is continuing its fast paced increase that started in January (10.8%), the best January increase in 32 years. Today at 11am PST, gold is up $10.40, trading at $1,746.20 per ounce on with excellent volume. The World’s central banks have become net purchasers of gold bullion after many years being net sellers.  In 2011 central banks purchased 430...

GOLD Wow, what a month for gold investors! Gold was up $170 per ounce, or (10.8%), trading at $1,735.80 at 11am PDT today with active volume.  As for today, the market held a tight trading range, watching developments at the European debt crisis meeting. The mood in Europe brightened on Tuesday, with European Union political leaders agreeing in principle to...

GOLD Gold trading is virtually unchanged, down $0.60 per ounce at 11am PDT, trading at $1,732.40 per ounce. Gold reached its highest price in more than seven weeks last Friday. Investors awaited the outcome of Greece’s debt deal talks, but slower-than-expected GDP growth within the United States was a minor negative. Gold also got a boost from reports the world’s...

  GOLD In the wake of the Fed’s policy changes on Wednesday, when the Fed indicated that interest rates were going to be held down until late 2014, inflation would not breach 2% but long term rates could climb to 4% or more, gold bolted through $1,700 and quite rightly. And this was not U.S. gold buying as the gold...

GOLD Federal Reserve Chairman Ben Bernanke said on Wednesday the U.S. central bank was ready to offer the economy additional stimulus after it announced it was likely to keep interest rates near zero until at least late 2014. Wow, what a bullish development for gold and silver owners. The major bull run for Gold and Silver continues with the next...