Daily Market Report

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...

GOLD There’s surprising news from the U.S. Federal Reserve. Interest rates are going to be kept at zero to ¼ percent until late 2014 and in turn, caused gold to rally above $1,700 per ounce.  Low interest rates and the high possibility of addition Federal Reserve and European Central Bank monetary stimulus (QE) are very bullish for the price of...

GOLD Gold sold off from recent highs as talks on a Greek debt swap deal stalled late yesterday. Eurozone finance ministers rejected as insufficient, an offer made by private bondholders to help restructure Greece’s debts, sending negotiators back to the drawing board. At 11am, Gold is trading at $1,668.60, down $8.90 per ounce with light trading.The Chinese Lunar New Year...

GOLD The gold rally continues on the outlook for a Greek debt settlement that will allow the EU and IMP to provide an additional 130 Billion Euro (US$168 Billion) in loans. Current Greek bondholders will be taking a 60% plus discount and receive new Greek securities. Demand continues to be strong globally and we are now up over $100 per...