Daily Market Report

GOLD Up, Up, and Away... the Gold rally continues with gold trading at $1,532.10, up another $3.40 an ounce at 11am PDT. It’s becoming more and more clear that the primary issue driving gold prices both up and down is DEBT. Whether it is Euro Debt, Japanese Debt, or lifting the U.S. Debt ceiling, both the positive and the negative...

GOLD Gold was up another $20.10 per ounce today, trading at $1,528.70 at 11am PDT, on negative Eurozone news. Moody’s gave the markets a painful reminder late yesterday that the debt crisis in the peripheral Eurozone countries is far from over. Moody’s lowered Portugal’s credit rating four notches (to Ba2) and further unsettled investors when they claimed that the percentage...

GOLD Gold is up $23.40 today, trading at $1,510.60 an ounce at 11am PDT. Gold rallied on light trading in Asia, the Middle East, and London, as bargain buying with gold under $1,500 stimulated investors and jewelry manufactures to add to their gold holdings. The rally continued in the U.S., breaking above the important $1,500 level, as an article over...

GOLD Gold is trading at $1,487.20 at 11am PDT, down $19.40 per ounce. With no clear reason for the selloff, this morning I called some friends who trade precious metals at the New York & Chicago Commodity Markets to ask why gold and silver prices are down today.  Here is what they said: Gold took its direction from a sharply...

GOLD Gold was trading at $1,506.60 at 11am PDT today, down $1.90 an ounce on average trading volume. Gold tested the important $1,500 price level again today, hitting $1,500.60 this morning. I believe the heavy demand for gold at this level means the downside risk for gold has become limited, while the fundamental issues that make Gold’s upside look robust...

GOLD Gold rallied in Asia as news from Greece indicated that the parliament was going to pass the austerity plan. Finally, in the face of a nationwide 48-hour strike and violent clashes in the Greek capital of Athens, the Greek parliament has voted in favor of a drastic $40.3 Billion package of austerity measures intended to save the country from...

GOLD Gold is trading at $1,501.40 at 11am PDT, up $3.20 per ounce as the current correction ends and the market starts to build a new trading range and base. The middle class is emerging in China, with over one million new Chinese millionaires in the past two years.  China’s gold sales will continue to increase and is expected to...

GOLDGold was trading at $1,498.20 at 11am PDT today, down $5.70 per ounce.  Gold reached $1,493 in Asia before a major rally began taking the price over $1,500 again. The U.S. Dollar continued to be strong and Crude Oil was down sharply on news for Greece. The deterioration in the Greek Debt problem has driven Sovereign Credit-Default Swaps rates much...

GOLDVery active trading in the Gold pits yesterday and today. A spark rally in the U.S. dollar (versus the Euro) and a sizeable correction in the world’s crude oil price have put precious metals on the defensive. This morning, gold tested long term support, breaking the $1,500 mark then rallying back immediately.  At 11am PDT Gold was trading at $1,503.90...

GOLDAt 11am PDT Gold is trading at $1,523.80, down $29.80 per ounce (1.9%) in very active trading. After seven up-days in a row for Gold and Silver, with Silver increasing over $2 an ounce and Gold up $38, it took a Fed Chairman Ben Bernanke news conference and a release of 60 Million Barrels of Oil to break the streak...