Daily Market Report 2/16/17

GOLD

Gold is back on its bullish track today, having reached a high of $1,242 before seeing some light short-term profit taking. The U.S. Dollar weakened and the Gold price quickly moved up to $1,242 from this week’s low of of $1,217 per ounce. At 11am PST today, Gold is trading at $1,240 per ounce, up $9 on excellent volume.

SILVER

Silver busted out above the key $18 per ounce resistance level this morning and has traded there most of the day. It’s important that Silver stays above $18 for the next few trading days, to establish a new base. At 11am PST today, Silver is up $0.10 per ounce, trading at $18.07 on good volume.