Daily Market Report 1/30/17

GOLD

As we approach the end of the first month of trading in 2017, Gold is continuing to test the $1200 level, already having climbed over 3% this year. It appears today is the last day that Future traders can get out of February Gold contracts and into April’s. This means we are seeing activity from long term investors as well as others taking a nice profit from just 1 month of trading. I believe this will make February another exciting month, as the Gold fundamentals continue to look strong. At 11am PST, Gold is up $5, trading at $1,195 per ounce on good volume.

SILVER

It’s good to see Silver remain above the $17 per ounce level after breaking through again last Friday. There’s good activity and support which shows a lot of strong signs for continued long term growth. At 11am PST Silver is $17.14 up/down by $0.01 on above average volume.