Mike Daly

Mike Daly joined PFGBEST Research in 2009 with more than 25 years of experience as a gold trader and market specialist. He was a floor trader at the Chicago Mercantile Exchange, Chicago Board of Trade and Chicago Board Options Exchange for the first two decades. He joined the renowned gold brokerage J. Aron in 1979 and served as a senior gold broker and market analyst for four years, and then continued another two years there after J. Aron was acquired by Goldman Sachs in 1982. He was charged with keeping vast spread markets in line and was a global gold market maker for the firm. From there he continued as a licensed independent broker on the CME floor in the S&P 500 stock index futures trading pit while also monitoring and trading gold markets. He joined Alaron Trading Corp. in 2007 as a senior broker then came on board PFGBEST through the acquisition of the customer assets of Alaron in spring of 2009. Mike is regularly quoted in broadcast and print media venues and is widely available to share his precious metals and trading background, knowledge and experience as an interview source, educator and spokesperson. PFGBEST is among the largest non-clearing U.S. Futures Commission Merchants, with customers, affiliates and brokerage offices in more than 80 countries. The company is a leader in sustainable investing through diversified products including managed funds, futures, forex, options, full-service and discount brokerage, trader education, market research, and direct online futures trading through its BESTDirect® platform, and numerous other platforms and applications.

This Week In Precious Metals

This week produced mammoth ranges coupled with very choppy and volatile swings. Traders and investors used European Union uncertainty and poor U.S economic data to fuel this week's rally. This week's poor jobs data kept […]

Gold Closes $3.20 Higher Today…($1367.50)

Today's trading session was a bit apprehensive as traders attempted to sort out the day's news from the European Union. We learned that the European finance ministers approved an 85 billion Euro loan package to […]

Another Volatile Week

December Gold finished the week trading a $35.00 range and settling at $1364.30…. The European Union's fragility coupled with the tension between North and South Korea have kept traders and investors alike scrambling to get […]

Gold Settles $4.60 Lower Today… ($1373.00)

Today's trading session produced a $12.30 subdued range as traders appeared to take profits ahead of the Thursday Thanksgiving Day Holiday. Volume remained crisp as traders received strong Initial Jobless Claims data as the Department […]

Gold Settles $19.80 Higher Today… ($1377.60)

Gold continued its rally today as global uncertainties offered investors chose safer haven alternative investments today. The fragility in the European Union remains prevalent as comments from Germany's Chancellor Angel Merkel to reporters in Berlin […]

Gold Settles $5.50 Higher Today… ($1357.80)

Today's Gold session covered a choppy $16.90 range as traders wait tomorrows FOMC minutes. I believe traders and investors alike are looking at Gold as a safer haven investment as the European Union's debt crisis […]

Weekly Gold Report

Today' gold trade was another roller-coaster ride as investors and traders alike await the possibility of another Interest rate hike from The Peoples Bank of China. Many financial experts predict the hike could happen over […]

Gold Settles $16.10 Higher Today…($1353.00)

Today Gold gained support off U.S Dollar weakness as investors showed renewed interest in buying the yellow metal.The Globex contract covered a choppy $25.00 range as traders are using daily economic data to determine their […]

Gold Settles $1.50 Lower Today… ($1336.90)

Today's session covered a mild $14.60 range compared to yesterday's $35.30 range. The gold waffled all day between positive and negative for the session. This was due to news and data released throughout the session […]

Without Disclaimer

Today's Gold market witnessed another avalanche sell-off as European Union debt crisis fears continue to weaken the Euro versus the U.S Dollar. The stronger Dollar coupled with possibility of more rate tightening from China are […]

Gold Settled $2.70 Higher Today… ($1368.20)

Today's day trading session covered a choppy and volatile$20.10 range as news from the European Union has investors buying Gold as a safer haven investment.

Another Wild Ride….

This week the December Globex Gold contract covered a mammoth $65.00 range as economic data injected extreme volatility and uncertainty into the market place. The global economic climate is certainly very fragile as the FOMC's […]

Gold Settled $4.00 Higher… ($1403.30)

Today's session covered a choppy $21.10 range as traders reacted to comments from Financial Ministers from the G20 meeting. it is certainly apparent most of the globe is criticizing the FOMC for last week's decision […]

Gold Settles $10.80 Lower …($1399.30)

Today's Globex session traded a very choppy and volatile $26.60 range as traders attempted to decipher all the economic data. Due to tomorrows Banking Holiday (Veterans Day) the United States Department of Labor released better […]

Gold Settled $6.90 Higher … ($1410.10)

Today's day session produced another all-time high as the Globex December Gold contract traded $1424.30 for a high. Today's trade was very choppy and volatile as trader's uncertainty at these un-chartered levels fueled a late […]

GOLD SETTLES $5.50 HIGHER… ($1403.20)

Today's Gold session notched yet another all-time high as it traded as high as $1407.20 during the day session. As of this posting the Gold continued to rally in the over night session trading as […]

Gold Continues To Climb…..

This week the December (Globex) contract recorded yet another all-time high trading $1398.70) as the global investor continues to choose Gold as its currency of choice. On Wednesday November 3rd the December contract traded as […]

Gold Closes $45.50 Higher Today… ($1383.10)

Another strong rebound from the precious metals today as traders view the Quantitative easing through June 2011 as sign the U.S Dollar will remain under siege and it is probably also an indication that the […]

Gold Settled $19.30 Lower… ($1337.60)

Today's day session covered a very wild and choppy $37.70 trading range as traders nervously awaited news from the FOMC. These unchartered price levels have caused traders to trade very defensively and to take profits […]

Gold Settles $7.00 Lower… ($1350.60)

Today's session traded a choppy $15.30 range as traders appeared to apprehensive in advance of tomorrows nationwide elections as well as the Tuesday & Wednesday FOMC meeting. Most investors expect the FOMC will announce more […]

Gold Closes $19.90 Higher… ($1342.50)

Once again the Gold market has showed its resiliency as the session covered a huge $23.30 range with high volume.  The over-done sell-off yesterday presented the Asian sector another "bargain buying" opportunity as the November 5th "DIWALI FESTIVAL" […]

Gold Settles $16.00 Lower Today…($1322.60)

The vast ranges and the volatility are becoming an every day occurrence in the Gold market as investors are using daily economic data to day trade these lofty levels.

Gold Settled .30 Cents Lower… ($1338.60)

Today's trading session covered a very technical $15.70 range as traders and investors got the opportunity to buy gold below the $1330.00 level. The session traded between support and resistance levels and rallied mid-session despite […]

Gold Settled $18.60 Lower Today… ($1325.60)

Today's Gold session provided another huge range ($39.50 on the Globex exchange) as the technically overbought Gold market experienced yet another avalanche sell-off. as nervous  traders remained uncomfortable holding positions at these unchartered  price levels […]

Gold Closed $8.20 Higher Today… ($1344.20)

Today's trading session once again rebounded  after a previous days price dip as investors looked at cheaper prices as an  opportunity to re-enter the gold market at "bargain hunting "prices.