Daily Market Report

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...

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...