Daily Market Report

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...

GOLD At 11am PDT, Gold is trading at $1,823.80, up $0.40 per ounce on average volume with a tight $22.00 range. The downgrading of banks should be bullish for gold; however, I was told that since last Friday a large amount of Gold lending in the forward market is rumored to be euro banks trying to raise cash.   SILVER...

GOLD At 11am PDT gold is trading at $1,823.40 up $13.20 per ounce on active trading in a narrow $24 range. Gold tested the $1,800 support level Monday, and today it held, then rallied back to $1,830. Last night the euro rallied against the USD because of a successful Italian bond auction and China investing €7bn in long-term Italian bonds...