Daily Market Report 10/10/16

GOLD

Asian and Mid-Eastern precious metal buyers helped stabilize the price this morning. Gold showed excellent demand today on a $5 rally. I think the worst of the recent decline is over, and the Gold price should gradually work its way back to the $1,300 price level. At 11am PDT today, Gold is trading at $1,259 per ounce, up $5 on active volume.

SILVER

After hitting a low of $17.11 per ounce last week, Silver showed excellent demand above the $17.50 level today. Bargain buyers were out in force in Asian, Mid-East and Europe this morning. At 11am PDT today, Silver is up $0.15, trading at $17.67 per ounce on excellent volume.