Daily Market Report 1/24/17

GOLD

Even with the dollar up today, Gold is developing a good base over the $1,200 level, trading around the $1,210 per ounce. As we continue to see more announcements from President Trump, I expect to see more volatility in the markets, which will be good for Gold in the long term. At 11am PST Gold is trading at $1,210 down $5 on strong volume.

SILVER

It has been nice seeing Silver trade over $17 per ounce for the last few days. I would like to see some of the wall street day traders take a profit and clear out the short term investors before the next run. This seemed to be the case today when Silver hit a high of $17.35 and volumes got slightly more active. I’ll continue to monitor the activity, but Silver, like Gold, has a lot of room for a run. At 11am PST Silver is trading at $17.16 up by $0.09 on good volume.