Daily Market Report

GOLD Gold is trading at $1,740.22 per ounce this morning at 11am PDT, down $36.28 per ounce on normal volume. At one point in overnight trading in Asia gold hit an All-Time high of $1,815.40. What the gold market could use right now is a week or two of stabilization so it could build a nice base for the next...

GOLD  Another day, another All-Time high for Gold.  WOW what a run, and all information is pointing to continued demand.  At 11am PDT Gold is trading at $1,776.50 per ounce, up $34.00 on very, very active trading. At this current pace, my $1,900 year end prediction looks low.  J.P. Morgan’s commodity analyst Colin Fenton was on CNBC stating he felt...

GOLD At 11am PDT gold is trading at $1,742.50 per ounce, up $27.50 on very active trading. Gold did hit a new all-time high at $1.782 in overnight trading in Asian markets. This is a pivotal point for the U.S. Dollar & Gold, and yes, gold has gone parabolic as it enters Phase II of the bull market. The downgrading...

GOLD Rating agency Standard & Poor’s says it has downgraded the U.S. credit rating from its top rank of AAA to AA+. Rating agencies analyze risk and give debt a "grade" that reflects the borrower’s ability to pay the underlying loans. The safest bets are stamped AAA. That’s where U.S. debt stood for years. This downgrade of U.S. bonds and...

GOLD After yesterday’s 500+ drop in the DJIA, the volatility and volume of trading was the highest day for gold and silver I have seen in months. Today gold has calmed down, with trading in a narrow $18 range compared to $45 yesterday. At 11am PDT gold is trading at $1,655.00 an ounce, up $1.70 per ounce from Thursday’s price. ...

GOLD What a day we had today. Gold ran up to $1,683.30 per ounce. Then, as the Stock Market got hammered down over 350 points, we saw gold being sold.  The traders believe this was “hitting the Piggy Bank” type selling. When hedge funds and financial institutions are hit with margin calls on their stock holdings they look for liquidity...

GOLD With the Dollar getting hammered, and the Worlds Equity Markets down sharply, including the DJIA down nine days in a row, we are seeing a run to safety. Gold is the ultimate safe haven investment. So it is not surprising to see gold trading at another new All-Time high of $1,662.10 per ounce at 11am PDT, up another $20.40...

GOLD With the debt ceiling issue behind us, and a brief selloff in Gold, we are ready to move higher.  The gold market is setting new All-highs again amid concerns over a double-dip recession coupled with the now surety of the Federal Reserve announcing some form of monetary easing very soon,.  Interest rates and the Stock Market are heading lower...

GOLD Late Sunday afternoon President Barack Obama and U.S. congressional leaders announced an agreement to cut an initial $1 Trillion from federal government deficit spending and more than $2 Trillion over the next 10 years, while allowing the U.S. debt ceiling to be raised by $2.4 Trillion, making the new ceiling $16.7 Trillion.  After the President’s announcement, as expected gold...

GOLD On the last trading day of July, Gold owners should be very happy. Gold is trading at $1,626.40 at 11am PDT, up $10.50 per ounce for the day and up $138.70 for the month of July. A physical gold investment has shown a return of 9.32% in just one month. Compare this increase to many Gold Mining Stocks and...