Daily Market Report 10/13/16

GOLD

With today’s report of weak economic growth in China and a strong U.S. Dollar, Gold has held above the key $1,250 level. Clearly, Gold is showing excellent support at this level in the face of negative news. At 11am PDT today, Gold is up $5, trading at $1,258 per ounce on excellent volume.

SILVER

Silver continues to stabilize while consolidating in the $17.50 per ounce area. I look for Silver to gradually work its way back to the $18 per ounce level shortly. At 11am PDT today, Silver is trading at $17.50 per ounce, down $0.02 on normal volume.