Daily Market Report

GOLDGold closed at $1,475.30 today, up $14.10 for the day; another all-time high for the Gold price on active trading. $1,500 is the next psychological and possible resistance number, and I believe we will see that number next week.  Today’s initial rally in gold came from oversees after European Central Bank President, Jean-Claude Trichet, indicated that the rate hike announced...

  GOLDGold closed today at $1,461.20 per ounce, down $0.30 for the day. During trading today gold hit a new all-time high of $1,466.20 and traded in a narrow $13 range on good volume.  With a weaker Dollar and Crude Oil surpassing $110 per barrel on top of continued problems in Japan, Middle East and Euro Debt issues, gold continues...

GOLD Up, Up and Away Gold hit another all-time high of $1,463.70 this morning, closing the day at $1,461.50 per ounce, up $8.10 on the day. Gold traded actively in the worldwide market on heavy volume, showing excellent support and demand for Gold at the higher prices.  I am amazed to hear one market analyst after another say that raising...

GOLDGold was up $20.30 today, closing at an all-time high of $1,453.40 on very active trading. We continue to look for a quick run to the next resistance point of $1,500.The news items that supported today’s Gold rally are: China’s central bank announced it intends to hike rates tomorrow by 25 basis points to 3.25%, as part of Beijing’s latest...

GOLD Gold was up $5.70 today on active trading, closing at $1,433.10 per ounce. Gold prices and demand continue to be supported by: the civil war in Libya and threat of escalating unrest in neighboring regions the aftermath of the recent Japanese earthquake and the developing nuclear crisis there the continued sovereign debt problem in Europe Crude Oil price rising...

GOLDGold was down $10.90 today, closing at $1,427.40 per ounce on news that job growth had accelerated in March. The Labor Department said the non-farm jobs had increased by 216,000 which was higher than expected and lowered the unemployment rate to 8.8%. Initially the price of gold dropped over $25 on the job news reaching $1,412.00 on ounce, at that...

GOLDGold rallied today closing up $13.10 to $1,437.30 on continued weakening of the U.S. dollar against the most actively traded foreign exchange currencies. I believe we will have a short wait for the next Gold breakout, whether it is due to continued Dollar weakness, the Euro Zone sovereign debt crisis, a civil war in Libya, escalating demonstrations in Syria and...

GOLDGold was up today, closing at $1,424.20 based on concerns over Consumer confidence, showing the biggest one-month drop in over a year, falling sharply in March owing to worries about rising prices and stagnant incomes, according to the latest survey by the nonprofit Conference Board. The board’s index dropped to 63.4 last month from a revised 72.0 in February. Economists...

Today I’m flying back to Baltimore to host a major Political Fund Raiser for the Gold & Silver Political Action Committee. I’ll be speaking with a few legislators and political professionals for updates on some important rare coin and precious metal legislation and issues. (to learn more about the PAC click on the link below) www.goldandsilverpac.org As a result of today’s...

GOLDGold today closed at $1,422, down $8.40 for the day. Stronger-than expected economic growth in the fourth quarter in the United States, coupled with hawkish comments from some U.S. Federal Reserve officials that the Fed was unlikely to extend its bond purchase program, pressured Gold prices. A 14% increase in the first two months of 2011 for Russian gold production...