Daily Market Report

GOLDGold is down $9.20 today, closing at $1,536.10 in reaction to Ben Bernanke’s speech late yesterday. Bernanke, Chairman of the Federal Reserve, offered no hints of further U.S. monetary easing but did acknowledge the economy has slowed. The Dollar strengthened and the gold/silver mining stocks sold off. This is not surprising to me, whether it comes from the Fed or...

GOLDGold fell $1.10 an ounce today to $1,536.00 with trading in a very narrow range. Gold firmed up above the $1540 level on weaker prices for the U.S. dollar and crude oil. The market is awaiting direction from the Federal Reserve Chairman. Ben Bernanke is speaking this afternoon to the International Monetary Conference at 12:45pm PDT, in Atlanta, just before...

GOLDGold closed today at $1,547.10, up $4.30 an ounce on light trading as the Chinese markets were closed for the Dragon Boat Holiday. The U.S. Dollar continues to be weak versus the Euro, reaching $1.46 to a euro. The geopolitical issues are in the news, with tensions at the Israel-Syria borders and massive protests on Sunday in Greece due to...

GOLDGold rallied today on a weaker Dollar and poor economic news, closing at $1,542.80, up $10.70 per ounce. Why would the value of gold increase because of poor economic news? Because it increases the likelihood of continued low interest rates and additional government or Federal Reserve stimulus programs. The dollar extended its losses against the euro Friday after more details...

GOLDGold closed today at $1,532.10, down $14.70 an ounce on very active trading. The Gold price ranged today from a low of $1,518 to a high of $1,544.  Gold initially sold off when Crude Oil prices dropped on reports of higher than expected inventories of Crude Oil and Gasoline. This, combined with the concerns of Greek debt default being postponed...

GOLDGold was up $10.20 today, closing at $1,546.80 an ounce on very active trading.  The Dollar is still in a race to the bottom with the Euro, and the Congressional fight over the U.S. Debt ceiling is acting as an accelerant. Economic news of a disappointing jobs picture in the U.S,. and a negative manufacturing reading, just added more fuel...

GOLDGold closed up $2.50, at $1,536.60 an ounce, based on a weaker dollar and some hope of a temporary resolution of the Greek debt crisis. Germany is considering funding Greek debt in the near term which would allow the beleaguered nation to obtain IMF funding by June 29th. Today the Gold price was helped by the downgrade of Japanese debt...

GOLDGold, up, up and away, closed at $1,534.10, up $11.20 an ounce on light U.S. trading.  In the face of the European debt crisis none of the global floor traders or commodity houses wanted to be short Gold over a long holiday weekend.   A Gold Question that needs the right answer...   A popular negative gold question that I...

GOLDGold closed at $1,522.90, down $5.70 an ounce on average trading volume.  The Gold market is taking direction from the Greek debt crisis.  As the situation appears to be heading to a Greek debt default --- gold and the dollar rally. When information comes out about a possible resolution to the problem --- gold and the dollar sell off.  The...

GOLDGold closed at $1,528.80, up $5.20 for the day on active trading. Gold rose for a fourth straight session (the longest rally in three weeks) as Europe’s debt crisis increased investor demand for the precious metal as a protection of wealth. This rally is amazing in light of the strong U.S. Dollar versus the Euro.  In Euros, Gold is trading...