Daily Market Report 6/27/16

GOLD

Asian markets are showing excellent support of Friday’s $57 per ounce Gold rally. Gold reached a high of $1,335 per ounce in Asian trading this morning. As the markets in Europe opened, Gold held firm as equity markets (especially bank stocks and financial institutions) dropped. Many of the European currencies continued to decline. At 11am PDT today, Gold is trading at $1,321 per ounce up $3 on good volume.

SILVER

Silver reached a high of $17.95 in early trading before seeing short term profit taking in the Silver market. This drove the price down to $17.60 per ounce, where it then found aggressive support. At 11am PDT today, Silver is down $0.04 per ounce, trading at $17.72 on average volume.