Daily Market Report 1/4/17

GOLD

Gold continues to show excellent support above the $1,150 per ounce support level. Its next step is to test the $1,200 per ounce resistance level later this month. The professional traders are now playing Gold from a bullish trade and they are buying on dips. At 11am PST today, Gold is trading at $1,165 per ounce, up $4 on good volume.

SILVER

Silver is showing excellent support after yesterday’s rally to $16.41 per ounce. This morning Silver reached $16.56 per ounce before seeing some short term profit taking. At 11am PST today, Silver is up $.14 per ounce, trading at $16.49 on good volume.