Daily Market Report 7/18/16

GOLD

With little to no news affecting the precious metal markets, Gold is trading in a narrow $12 high/low range from $1,335 to $1,323 today. Gold continues to consolidate its 25% increase this year, while building an excellent base for the next leg higher, $1,400 per ounce. At 11am PDT today, Gold is trading at $1,329 per ounce, up $1 on average volume.

SILVER

Silver has traded above and below the $20 support/resistance level all day. Today we had a low of $19.73 and a high of $20.27 per ounce. This is an important level and it may take a little more time to find the needed support to move higher. At 11am PDT today, Silver is trading at $20.04 per ounce, down $0.06 on average volume.