Daily Market Report

Financial and Precious Metal markets are the focus this week regarding the ongoing European debt crisis as Greek officials struggled with the aftermath of Sunday’s approved but hugely controversial new austerity laws.  These measures were required by the Troika in order for the debt laden country to receive the next tranche of €130 billion bailout funds from the European Union...

GOLD Last night the leaders of Greece’s governing coalition pushed back against German demands for deeper budget cuts to get the bailout needed to prevent a financial collapse. The Greek parliament must, by Sunday, ratify the 130B bailout package agreed by Greece and the "troika" of the European Commission, the European Central Bank and the IMF. After this news was...

GOLD Today, Greek political leaders clinched a long-stalled deal on reforms and austerity measures to secure a second international bailout from the IMF and EU to avoid a chaotic default, hours before the country’s financial backers began meeting in Brussels.  The European Central Bank maintaining interest rates the current, unchanged rate and the Bank of England expanding its asset-purchase program...

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...