Daily Market Report 10/14/16

GOLD

Today reminds me of the movie “Ground Hog Day,” it’s the same price range, volume and base building all over again. Gold is stuck in a narrow trading range from $1,250 to $1,260, awaiting news that will cause it to breakout. At 11am PDT today, Gold is trading at $1,257 per ounce, down $1 on average volume.

SILVER

Silver continues to mirror Gold, trading above a below the $17.50 per ounce price level. Physical demand remains strong and precious metal equites are holding. At 11am PDT today, Silver is up $0.03, trading at $17.47 per ounce on light volume.