Daily Market Report 9/8/16

GOLD

The Gold price is showing short term profit taking after the recent $40 rally. Gold traded between $1,335 and $1,350 per ounce today on excellent volume. At 11am PDT today, Gold is trading at $1,337, down $8 per ounce on excellent volume.

SILVER

Silver has found a good trading range from $19.50 on the low end to a resistance level of $20 per ounce. It would be very healthy for Silver to trade at this level for a short time, building a nice base for its next attempt at breaking above the $20 resistance level. At 11am PDT today, Silver is down $0.10 per ounce, trading at $19.65 on good volume.