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 Settles $15.50 Higher …. ($1215.30) August Gold…

The European Union’s debt crisis continues to fuel investor demand for gold on a global basis.  Investors world-wide appear to using Euro’s to purchase gold as a hedge or “safer haven” to guard against further Euro Dollar weakness. […]

Gold Settles $17.90 Higher… ($1194.00)

Today’s Gold showed some resiliency today as the European Union continues to fuel the global demand for physical gold. The jewelers of India have been very active buyers the last few trading sessions as they […]

Gold Settled $12.50 Lower … ($1176.10)

Today's Gold market was very choppy, volatile, and covered a $22 range as global investors continue to look toward the European Union for direction. European Union finance ministers met in Brussels for a four hour […]

WEEKLY METALS REPORT

So far this week we have seen a mammoth $67.80 trading range in the Globex Gold market. The Gold market had been technically over-bought and in need of this correction. We had a high of […]

Gold Settles $13.50 Lower…. ($1214.60)

Gold traders continued to take profits as the news from the European Union continues to leave investors bewildered. The news out of Germany continues to shake the confidence of the savviest investor. Bafin (Germany's  financial […]

Gold Settled $21.50 Lower… ($1193.10)

The gold market continued to reflect the uncertainty of investors regarding the latest news coming from the European Union. Yesterday we reported BaFin (Germany’s financial services regulator) had announced it will introduce a temporary plan […]

Gold Settles $13.50 Lower…. ($1214.60)

Gold traders continued to take profits as the news from the European Union continues to leave investors bewildered. The news out of Germany continues to shake the confidence of the mostsavvy investor. Bafin (Germany's financial services regulator) […]

Gold Settles $1.40 Lower … ($1227.80)

The gold market took investors on a roller-coaster ride today as the Euro debt crisis continues to drive the precious metals. Today's trade covered a $32.10 range including another new contract high ($1249.70). Many investors […]

Gold Settles 30 Cents Higher … ($1228.10)

Today’s Gold trade covered a vast $20.30 range in the Globex electronic market. The volatility continues to reflect the uncertainty in the Euro region. There has been some profit taking as investors remain skittish over the ever changing news […]

Global Uncertainty Fuels Gold Rally…

(including new contract highs) So far this week Gold has covered a $64.80 range with a low of $1184.40 ( Monday 5/10) and a high of  $1249.20 (Wednesday 5/12). This latest rally has been fueled […]

Gold Settles $22.80 Higher… ($1243.10)

The stampede to safer havens continued today as the gold market claimed new highs as the uncertainty in the European states drives investors toward tangible hard asset investments. Despite being technically over-bought the latest rally is […]

Gold Settles $22.80 Higher… ($1243.10)

The stampede to safer havens continued today as the gold market claimed new highs as the uncertainty in the European states drives investors toward tangible hard asset investments. Despite being technically over-bought the latest rally is […]

Gold Settles $19.50 Higher… ($1220.30)

After the initial measures taken by the European Union agreeing to a Trillion Euro rescue package in attempt to combat soaring debt in the Euro region and to preserve the Euro it appears that investors […]

Gold Settles $19.50 Higher… ($1220.30)

After the initial measures taken by the European Union agreeing to a Trillion Euro rescue package in attempt to combat soaring debt in the Euro region and to preserve the Euro it appears that investors […]

Gold Settles $13.10 Higher… ($1210.40)

The Gold market continues to benefit from the European Union's uncertainty and investor demand as a flight to safer havens. Despite reports that the German upper house had given its approval for the Greek bail-out it still has to […]

Gold Settles $13.10 Higher… ($1210.40)

The Gold market continues to benefit from the European Union’s uncertainty and investor demand as a flight to safer havens. Despite reports that the German upper house had given its approval for the Greek bail-out […]

Gold Settles $5.80 Higher …. ($1175.00)

Another choppy and volatile day as investors experience a wild roller-coaster ride in the gold. The Globex (electronic market) covered a $20+ trading range as European Union uncertainty continues to fuel the global markets. This […]

Gold Settles $14.10 Lower Today… ($1169.20)

Today’s Gold market made yet another new 2010 high ($1192.80) prior to an avalanche sell-off mid-session. Gold had been ignoring early U.S Dollar strength and much lower energy prices as it continued to reflect its […]

Gold Settles $2.60 Higher …($1183.30)

Today's gold trade produced another new high for 2010 reaching the $1188.40 level. The European debt crisis continues to fuel the global markets as the world watches with a skeptical view. Despite an agreement between […]

This Week In Precious Metals…

Once again this week the European Union's debt crisis paved the path for the precious metals.  This week Standard & Poor's downgraded Greece's  Credit rating to "junk bond " status as well as lowering  Spain […]

Gold Settles $9.60 Higher… ($1171.80)

Today's Gold trade remained strong as the debt crisis in the European Union continues to drive European as well as global investors into "safer havens".  The economic climate in the Euro states seems to worsen […]

Precious Metals Continue To Hang Tough…

This week in the precious metals continues to provide evidence that savvy investors are choosing hard assets as an alternative to fiat currencies. As Greece's debt crisis negotiations continues to keep the Euro Dollar under […]

Gold Settled $8.20 Higher Today… ($1162.20)

Today’s gold market traded adversely to its normal indicators. Despite a very strong U.S Dollar, lower energy prices, and a weaker silver market the gold rallied to close $8.20 higher.

Today’s Gold Session Settled .30 Cents Higher ($1154.00)

The Gold trade was very choppy in anticipation to the two day FOMC Meeting covering Tuesday and Wednesday. The consensus agrees the FOMC will leave interest rates unchanged for an   extended period. However, traders to […]

Precious Metals Continue To Hang Tough…

This week in the precious metals continues to provide evidence that savvy investors are choosing hard assets as an alternative to fiat currencies.  As Greece's debt crisis negotiations continues to   keep the Euro Dollar under […]