Daily Market Report 2/6/17

GOLD

Gold opened higher this morning, reaching a new 2017 high of $1,232.40 per ounce, with active trading. Today, we saw this year’s first test of the $1,230 resistance level, and I believe we will see $1,250 before the end of the month. At 11am PST today, Gold is up $13 per ounce, trading at $1,231 on excellent volume.

SILVER

Silver followed Gold higher this morning, reaching $17.73 per ounce. It was announced today that the 2016 CME trading volume for Silver was up 40%, this reflects a solid increase in new Silver investors. At 11am PST today, Silver is trading $17.68 per ounce, up $0.26 on excellent volume.