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.

Gold Settled $36.10 Lower Today… ($1336.00)

Today's Gold session reacted strongly to The People's Bank of China's surprise announcement to raise its benchmark one year lending and deposit rate by .25 basis points. Anytime you mention rates hikes you'll see gold […]

Gold Settles .10 Cents Higher … ($1372.10)

The resiliency of the Gold market continued today. The market rallied from a low of $1353.20 early to actually close positive for the trading session. Today's session covered a very choppy and volatile $20.40 range […]

Another Record High…..

This week the Gold market notched another all-time high ($1381.10) as investors continue to choose gold as their "safe haven" investment and their currency of choice. The Gold market covered a very choppy and volatile […]

Gold Remains Very Volatile…..But Resilient…

This week's Gold market covered an extremely volatile and choppy $52.60 trading range and settled at the $1345.30 level for the week. We traded another all-time high this week as December (Globex) reached $1366.00.

Gold Remains Very Volatile…..But Resilient…

This week's Gold market covered an extremely volatile and choppy $52.60 trading range and settled at the $1345.30 level for the week. We traded another all-time high this week as December (Globex) reached $1366.00.

Gold Settles $7.40 Higher … ($1351.00)

Today's Gold session rallied to another all-time high as Globex (December contract) traded $1351.00. Once again investors and traders used the Global economic news to buy Gold as their 'safe haven" investment as well as […]

Gold Settled $1.00 Lower …($1316.80)

Today's Gold session traded a very quiet $7.90 range. After notching new all-time Friday it appeared traders were a bit apprehensive and maybe taking some profits as they look forward to Thursday and Friday's key […]

Gold Closes.70 Cents Lower…( $1309.60)

Today's session was extremely choppy and volatile as traders tried to determine the proper strategies after deciphering the days economic data.

The Gold Rally Continues To Impress !

This week's Gold rally has been fueled primarily to overwhelming global demand as investors continue choose both Gold and Silver as their alternative investment choice.

Gold Settles $2.00 Higher Today…($1310.30)

Today's Gold session yielded yet another all-time high reaching $1314.80 as traders continue to use Gold as their safe haven of choice.

Gold Settles $9.80 Higher… ($1308.30)

Another huge trading range yields yet another all-time High in both the Gold and Silver markets. Today's Gold market traded a $35.60 range (Globex) and notched a new all-time high of $1311.80 per ounce.

Gold Settles .50 Cents Higher… ($1298.60)

Today's session covered a very subdued $5.50 range. Despite a weaker U.S Dollar it appeared traders were apprehensive above the $1300.00 level as we are all trading in unchartered territory. I believe traders are waiting […]

Precious Metals Soar….

This week in the precious metals continued their torrid pace to once again post all-time highs. This recent rally has been fueled once again by poor economic data and the growing lack of confidence in […]

Another Record Week….

This week the Gold market covered a range of $42.10 while making new all-time highs ($1284.40). The lack of confidence in Global Regulators as well as a lack of confidence in the fiat currencies continues […]

Gold Settles $3.00 Lower Today… ($1268.70)

Today's trading session covered a very choppy and volatile $9.00 range. December Globex traded as high as $1273.50 and just thirty minutes later we trading on the lows. ($1264.50).

Gold Settles $24.60 Higher …($1271.70)

Today's Gold session produced another all-time High ($1276.50) and covered a trading range of $30.50.The initial rally was fueled by lower Gold production news from Russia.

Gold Closes .60 Cents Higher… ($1247.10)

Today's Gold session traded a very quiet $8.70 range as investors seemed unfazed by the Banking news coming from the European Union this weekend.

Precious Metals Remain Resilient….

This week the economic data halted the latest "bull run" as traders try to decipher the long term affect. The Gold market covered a $26.80 range for the week which included a high of $1264.70 […]

Gold Settled $8.20 Higher ($1259.30)

Today's Gold session covered a $15.20 range.  The rally today was fueled by "safe haven" buying as the news from the European Union renewed eculators worries about the fragility of the region.  There are legitimate […]

Gold Settles $5.30 Higher …($1253.40)

Today’s Gold session covered a fairly quiet $9.90 range as traders were sidelined awaiting tomorrows Unemployment Data… Today’s Initial Jobless Claims dropped by 6,000 – 472,000. Legislators and Investors alike will be monitoring tomorrows data […]

Gold Closes $2.20 Lower … ($1248.10)

Today's Gold session traded a technical $12.50 range. It appeared that traders were a tentative around the $1255.00 plus levels and took some profits prior to the economic data due out tomorrow morning.

Safe Haven Buying Continues…

This week the Gold market encompassed a range of $34.30 trading between $1211.70 and $1246.00. The current economic climate has sent savvier investors into safer investments primarily Gold and Silver.

Gold Settles $3.60 Lower… ($1237.70)

Today’s Gold session traded a very quiet $8.80 range. Gold traded lower off the better than expected Initial Jobless Claims data. For the week ending August 21st Initial unemployment claims dropped by 31,000 to 473,000 […]

GOLD SETTLES $7.90 HIGHER… ($1241.30)

Today's Gold session rallied to eight week high's as poor economic data continues to send investors into safer haven markets. As stocks fall in Europe, Asia, and here in the U.S savvier investors are moving […]

WEEKLY High-$1239.50 Low-$1216.20

This week the Gold market covered a $23.30 range that traded in a very technical manner. The theme for the week was the continuation of poor economic data that sent savvy investors seeking ‘safe haven” investments […]