Daily Market Report 10/7/16

GOLD

$1,250 per ounce is an excellent support level, and today Gold briefly broke below it, reaching $1,242 before quickly rallying back. Monday will be an important day to find out how much support the Asian, Middle Eastern, and European markets will provide. At 11am PDT today, Gold is trading at $1,254, up $3 on active volume.

SILVER

After hitting $17.11 per ounce in early trading Silver quickly bounced back on heavy demand for physical and paper markets. Bargain buying is very active in Asian and U.S. markets. At 11am PDT today, Silver is up $0.23 per ounce, trading at $17.52 per ounce on excellent volume.