Daily Market Report 10/24/16

GOLD

Gold opened unchanged in Asia and traded in a narrow $8 range as it moved into the Middle East and Europe. $1,260 per ounce is showing to be an excellent support level. At 11am PDT today, Gold is trading at $1263, up $4 on above average volume.

SILVER

Silver reached a high this morning of $17.89 per ounce before seeing some short-term profit taking. Silver continues to trade between $17.50 and $18 per ounce as it waits for some news to break out of it’s range. At 11am PDT today, Silver is trading at $17.61, up $.09 on above average volume.