Daily Market Report 8/24/16

GOLD

The Gold price sold off this morning, reaching a low of $1,324.80 per ounce. Gold’s decline was caused by a stronger U.S. Dollar and concerns about a speech by Federal Reserve Chair Janet Yellen this weekend, which will be closely watched for further clues on U.S. interest rate policy. At 11am PDT today, Gold is trading at $1,326.50 per ounce, down $15.50 on good volume.

SILVER

Silver dropped below the recent $18.70 support this morning when Gold was trading at the lows. Silver did hit a low of $18.52 per ounce before bargain buyers appeared. At 11am PDT today, Silver is down $0.36 per ounce, trading at $18.58 on active volume.