Daily Market Report 6/9/16

GOLD

The rally continues, Gold buyers have been very aggressive in Asia and Europe. Gold demand in the U.S. markets (futures, options, and physical) is showing excellent demand. I believe that Gold will reach the $1,300 per ounce level this month. At 11am PDT today, Gold is up $11 per ounce, trading at $1,270 on excellent volume.

SILVER

Silver tested the $17 support/resistance level this morning, reaching a low of $16.94. At that point, buying increased and the price of Silver quickly moved up to $17.35 per ounce. With Silver firmly above the $17 level, it has regained it bullish sentiment with professional traders. At 11am PDT today, Silver is trading at $17.28 per ounce, up $0.28 on good volume.