Daily Market Report

GOLD The gold price is down $8.90 trading at $1,589.00 at 11am PDT in very active trading. The gold market is focused on news from the latest Eurozone economic summit, where they are working on a second bailout package for Greece and measures to prevent the spread of sovereign debt problems to other European countries. The latest news appears to...

GOLD After a selloff in Gold late yesterday, following President Obama’s announcement that the Senate’s ’Gang of Six’ has come up with a plan to settle the debt ceiling problem, the gold market is rallying back. Gold dropped to $1,580.00 in reaction to the announcement and today Gold has regained its mojo. At 11am PDT Gold is trading at $1,597.90...

GOLD Gold just missed making it to “Eleven Days in July”... the longest Gold rally I can remember since the 1970’s! Gold ended it’s rally today after ten days in a row.  At 11am PDT going was trading at $1,597.90, down $5.90 per ounce on news of a possible deal made in Washington DC on lifting the Debt Ceiling. India...

GOLD Gold breaking through the $1,600 level today shows the amazing strength in the market, especially considering that we are in July, an historically flat month. However, the ongoing Euro Debt issues and the Debt ceiling problems in Washington DC are driving investors into Gold as the ultimate safe haven. At 11am PDT gold is trading at $1,603.80, up $12.00...

GOLD Gold continues it’s breakout, now trading up for nine days in a row from the July 1st low of $1,487.  Gold is setting new all-time highs daily, currently trading at $1,591.80 at 11am PDT, up an additional $2.10 per ounce. Traders are still focused on the DEBT, whether it is our Debt Ceiling debate in Congress or the European...

GOLD It’s now eight days in a row that Gold has increased in value.  At 11am PDT today gold has set another record all-time high at $1,589.70, up another $5.60 in very active trading. Gold has now increased over $102 (6.8%) since its recent July 1st low of $1,487.20. Gold did reach $1,594.70 in early trading today, which was only...

I hate the “I told you so” type people, So, I will not say it..  GOLD Gold is trading at a new ALL-TIME HIGH of $1,584.10 at 11am PDT today, up $22.70 per ounce on very active trading. Gold has now increased in value seven days in a row.  The major stimulus for gold today was Federal Reserve Chairman Ben...

GOLD Up, Up, and Away, Gold is up for the sixth day in a row. Gold is trading at $1,561.40 at 11am PDT, up $13.30 per ounce on heavy volume.  Again, I believe staying above the important $1,550 resistance level will lead to setting a new all-time high (above $1,575) in gold very soon.   The global debt problems are...

GOLD Gold continues to rally today based on continued safe haven buying concerns. The debt problems of Greece, Italy, and Portugal are back, while our debt ceiling dilemma in the U.S. is the focus of the news media. At 11am PDT gold is trading at $1,548.10, up $5.80 per ounce in active trading. Gold reached $1,558.20 earlier this morning. If...

GOLD Today’s disappointing U.S. jobs report, driving our employment rate to 9.2%, was negative for the U.S. Stock Market, but bullish for Gold which rallied $10.20, trading at $1,542.30 an ounce at 11am PDT.  Why did gold rally on a poor Jobs report? Because, this news makes another round of quantitative easing far more likely. I will provide more information...