Daily Market Report 1/6/17

GOLD

After starting 2017 with a $32 Gold rally, today we are seeing a normal Friday with some short term profit taking. I continue to see more bullish information and demand numbers for precious metals from around the world, and I think 2017 will be a great year for Gold/Silver and rare coin investors/collectors.

Right now I’m in Fort Lauderdale, FL, attending the FUN rare coin convention. The rare coin market is very healthy, with active trading at this show and lots of fresh buying. At 11am PST today, Gold is down $9, trading at $1,171 per ounce.

SILVER

Silver has consolidated above the key $16 per ounce level, building a base for a move higher. I believe our first attempt at breaking the $17 per ounce resistance level will come next week. Physical demand remains strong as the 2017 U.S. Silver Eagles will be released by the Mint next week. At 11am PST today, Silver is down $0.17, trading at $16.45 per ounce.