Daily Market Report 09/08/14

GOLD

As the U.S. currency soared against the Japanese Yen and the Euro Gold tested its $1,250 support level today, reaching $1,251.30 per ounce.

Demand is strong, but the bears have the gold market on the defensive. At 11am PDT today, gold is trading at $1,256 per ounce, down $11 per ounce on heavy volume.

SILVER

Silver broke down earlier today under the $19 support level, reaching $18.89 per ounce, before rallying back up.

At 11am PDT today, Silver is down $0.15, trading at $19.02 per ounce on average volume.