Daily Market Report

GOLD The primary mover in the Gold market for the past few weeks has been the Eurozone debt crisis and the concerns about banking or sovereign debt default. Now, one of the biggest hurdles to the debt problem and economic recovery of the Eurozone was cleared this morning as the  German Parliament voted to Expand the Euro-Zone Bailout Fund.  Gold...

GOLD As the 17 Eurozone countries continue to vote on the debt bailout program, the gold market appears to have stabilized in a $1,600 to $1,675 trading range. Gold will benefit from increased investment demand if there is a split between 17 Eurozone member countries over a proposed $149 billion bailout package for Greece.  At 11 am PDT, gold is...

GOLD I’m back from Europe just in time to see the precious metal markets bottom out.  After trading as low as $1,535 per ounce in Asian trading Monday, it appears Gold has found support at $1,600 per ounce.  The professionals are now back in control of the Gold market and the increase in margin requirements at the CME and Shanghai...

GOLD At 11am PDT, Gold is trading at $1,601.17, down $57.03 per ounce on strong trading. Today as we saw Europe open, Gold started to show support around the $1600 level on news of the European Union instituting their version of "Operation Twist". With margin call limits also raised, seeing this correction in Gold wasn’t too much of a surprise...

GOLD At 11am PDT, Gold is trading at $1,691.50, down $45.70 per ounce on very heavy trading. High volatility continues in the world’s stocks, bonds, and precious metal markets.  We have serious liquidity and debt problems with the world’s banks. We are seeing the same heavy selling we saw in September and October of 2008 when the markets suffered financial...

GOLD At 11am PDT, Gold is trading at $1,737.20, down $44.30 per ounce on very heavy trading. In today’s market, the word of the day is "Margin Call". With the Global Banking crisis and liquidity problems this is not negative for gold. What we are seeing today is a temporary gold selling, because of margin calls in the worlds equity...

GOLD At 11am PDT, Gold is trading at $1,808.10, up $2.30 per ounce on light trading. The range is also fairly tight going from $1,784.30 on the low to $1,811.70 on the high. Trading was fairly light as Asia opened today. After Federal Reserve Chairman Ben Bernanke spoke, he initiated "Operation Twist" and trading has picked up, but not substantially...

GOLD At 11am PDT, Gold is trading at $1,804.50, up $25.00 per ounce on strong trading. The main reason for today’s gain is the downgrading of Italy’s Banks, and the continued worsening of the Europe PIIGS in general. As usual, pulling money out of the market into a "Safe Haven" like Gold has proven time and again to show strong...

GOLD At 11am PDT, Gold is trading at $1,777.90, down $35.60 per ounce on heavy volume. This weekend has raised concerns for Greece since their hope to raise additional funds from either fellow European Countries, the IMF, or China, have not been successful. And with estimates showing Greece will run out of cash in October the deadline is fast approaching...

GOLD At 11am PDT, Gold is trading at $1,809.33, up $18.53 per ounce on heavy volume. After gold falling below the $1,800 level, we saw a large increase in physical gold buying come into the market. However, the fact that gold rallied so quickly on Friday with very heavy volume, really says a lot. This could have been a clean-out...