The Metals Report
by Mike Daly
Daly Gold Report 3/12
3/12/2010
Mike Daly
PFGBEST Broker
(312) 775-3014
mdaly@pfgbest.com
Weekly Gold Report 3/11
3/12/2010
Mike Daly
PFGBEST Broker
(312) 775-3014
mdaly@pfgbest.com
WEEKLY NMETALS REPORT 3/11
3/11/2010
Subject: WEEKLY METALS REPORT 3/11
Weekly Gold Report 3/11
So far this week we have traded a very
choppy and volatile $37.50 range.
The weakness of the Gold market has been
attributed to the U.S Dollar’s strength.
It appears this European Credit Crisis
that has put an unbelievable strain on the
Euro is not going away anytime soon.
We are all aware of Greece’s budget debt
and the vast and severe cuts the Greek Cabinet
has ordained to receive help from the European
Union Central Bank. However there is much
more here than previously realized from the
investment community. Not only was Greece’s
fiscal problems worse than originally thought
it has been revealed that Portugal, Ireland, Spain
and Italy are having there own debt crisis.
With this economic climate it is truly amazing
the ‘precious metals’ have been able to maintain
the $1100.00 level.
Also adding pressure to the precious metals inability
to maintain or retain gains is the speculation regarding
the Peoples Bank of China once again raising
interest rates due to HIGHER than expected inflation
in China. They have been sending mixed signals to
the world regarding their appetite for Bullion.
First they boast about building their reserves from 1500
metric tons to 10,000 metric tons over the next decade.
Yet recently they have stated they will curtail their bullion
imports to help slow their ever growing economy.
Only time will tell what the worlds largest consumer
will do.
Meanwhile the jewelers of India have been huge
Bullion buyers in the Asian Gold market and have
deemed it as “Bargain Hunting”. The Indians have
been buying price dips since early December.
Indonesia and Viet Nam have also been buyers
of bullion…
Jobless Claims dropped 6,000 to 462,000.
Unexpectedly the Trade Deficit dropped 6.6%.
Let’s talk Gold!
Mike Daly / Gold Specialist
PFG BEST
mdaly@pfgbest.com
877-294-4669
312-775-3014
312-563-8029
* There is Extreme risk trading futures, options, and forex*
Mike Daly
PFGBEST Broker
(312) 775-3014
mdaly@pfgbest.com
There is a substantial risk of loss in trading futures and options.
Past performance is not indicative of future results. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or commodities. PFGBEST, its officers and directors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction.