Daily Market Report 2/7/17

GOLD

After yesterday’s $11 rally, Gold is consolidating this morning in a narrow $8 high/low range. It’s very healthy for Gold to trade in the current range while it builds a base for the first attempt at the $1,250 per ounce resistance level. At 11am PST today, Gold is trading at $1,234 per ounce, up $3 on excellent volume.

SILVER

Silver continues to build an excellent base before moving to the $18 per ounce resistance level. Both physical and future contracts for Silver are showing a solid increase in demand. At 11am PST today, Silver is trading at $17.72 per ounce, up $0.04 on good volume.

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