Daily Market Report 2/8/17

GOLD

The Gold rally continues, moving to $1,244 per ounce this morning and heading to the next resistance level of $1,250 very soon. What is interesting about the current rally is that it it happening in the face of a strong U.S. Dollar, which is normally a negative factor. At 11am PST today, Gold is trading at $1,239 per ounce, up $5 on good volume.

SILVER

After reaching a high of $17.90 per ounce this morning, Silver is trading in a narrow $0.15 high/low range. Silver continues to build a base for its first attempt at the $18 resistance level. At 11am PST today, Silver is up $0.03 per ounce, trading at $17.75 on average volume.