Daily Market Report 7/5/16

GOLD

Gold has seen very active trading in Asia and Europe this morning, ranging from a high of $1,360 to a low of $1,345 per ounce. Both physical and paper Gold demand continue to increase from European and Asian investors. Brexit physical Gold buying in Great Britain is at record levels. British Gold sovereigns are big sellers in coin stores. At 11am PDT today, Gold is trading at $1,355 per ounce, up $20 from last Friday’s price.

SILVER

Over the long holiday weekend, the Silver price experienced a lot of volatility. Silver reached a high of $21.16 per ounce on July 4, and a low of $19.56 this morning. This 8% high/low trading range happened today on the highest exchange volume I have seen in three years. The trading volume was over 150,000 5,000-ounce CME Silver contracts (750,000,000 ounces). At 11am PDT today, Silver is trading at $19.90 per ounce, up $0.40 from last Friday’s price.