Daily Market Report 9/23/16

GOLD

Gold is consolidating today in a tight $7.50 High/Low range, after the $30 rally earlier this week. I look for the Gold price to test the $1,350 per ounce resistance level next week, as it appears that the bulls are back in control. At 11am PDT today, Gold is trading at $1,338 per ounce, down $2 on average volume.

SILVER

Silver didn’t hold the important $20 per ounce level this morning, but it was light volume. I need to see Silver move back above $20 early next week to stay short term bullish. At 11am PDT today, Silver is down $0.40 per ounce, trading at $19.62 per ounce on light volume.