Daily Market Report

GOLDGold has broken through its resistance level today, closing at $1,523.60, up $7.80 an ounce on excellent volume. It was confirmed today that China has overtaken India as the world’s largest purchaser of gold at 90.9 million tons in gold bars and coins for the first quarter of 2011. This is up 123% from 40.7 tons last year during the...

GOLDGold, closed at $1,515.80 an ounce, surprisingly up $.90 in the face of a strong U.S. dollar, on active trading. The latest Greek debt problem has caused a strong dollar versus the Euro. This means that the Gold price is near an all-time high valued in Euros, while its lower valued in American Dollars. Take advantage of this opportunity. Because...

GOLDGold rallied sharply today, closing at $1,514.90, up $20.20 an ounce on high volume for a Friday. I can think of at least 20 reasons you need to build up your gold holding right now, but the #1 reason is that the World Governments Central banks are dumping U.S. Dollars and Securities and aggressively purchasing gold to build up their...

GOLDGold closed today at $1,494.70, up $0.60 an ounce on light trading. The global demand for physical gold over paper backed gold continues to grow. Worldwide Investors abandoned gold exchange-traded funds in the first quarter in favor of coins and bars. This buying of physical gold investment products helped lift overall bullion demand by 11 percent. The World Gold Council...

GOLDGold was up $9.70 an ounce today, closing the day’s trading at $1,494.10 on average volume.  Gold did benefit from increased buying overnight in India and China, supported by higher Crude Oil and equities prices in the world’s financial markets.   SILVERSilver ended the day’s trading at $35.02, up $1.06 an ounce and above that important $35 barrier. Legendary investor...

GOLDGold, with active trading, ended down $10.20, closing at $1,484.40 an ounce. Like yesterday, most of the news affecting the precious metal markets was the strength of the US Dollar and the weakness in Crude Oil and other commodities.  Early in the trading session gold hit $1,471, but sizeable buying came in and moved the market higher. It’s been reported...

GOLDGold closed at $1,494.80 an ounce today, up $0.60, today on normal trading volume. The overnight markets showed support based on a weaker dollar, ranging from a low $1,486 to a high of $1,505.  Demand for physical Gold is very strong with the U.S. Mint reporting sales of 85,000 ounces of American Gold Eagles since May 1.  The on-going fight...

GOLDGold closed today at $1,494.20, down $8.10 an ounce for the day on light trading. Look for a test of the $1,500 area in Asia on Monday, based on the direction of the US dollar. The two issues that are effecting the movement in the Gold market today are: the strength or weakness of the US Dollar, finally closing near...

GOLD Gold closed at $1,502.30, down $2.90 for the day. Gold sold off with Silver overnight in Asia, reaching $1,483 at one point.  Gold continues to show strength at $1,500 and rallied back. The World Gold Council (WGC) released the World Official Government Gold Holdings as of May 1, 2011. Ten different Central Banks have replaced U.S. Dollars in their...

GOLDGold closed down $10.40 an ounce closing at $1,505.20, showing excellent support and buying at the $1,500.00 area. In the face of an 8% decrease in the Silver price today, gold was down less than 1%. There was bullish news today on gold. Hal Lehr, Deutsche Bank’s managing director for cross-commodity trading, said in an interview in Buenos Aires that...