Daily Market Report 9/1/16

GOLD

Gold reached a low of $1,302 in early Asian trading. At that point bargain buyers appeared and quickly took the price up $10 per ounce. As we approach the holiday weekend, it will be interesting to watch the Asian and European markets trading on low volume. At 11am PDT today, Gold is trading at $1,313 per ounce, up $5 on low volume.

SILVER

Silver continues to trade in the $18.50 to $19 per ounce range. Silver is finding excellent support at $18.50, with resistance at $19 resulting from professional traders taking short term profits. At 11am PDT today, Silver is up $0.20 per ounce, trading at $18.82 on normal volume.