Daily Market Report 11/2/16

GOLD

Gold has moved above the important $1,300 per ounce resistance level after recent results show Donald Trump narrowing in on Clinton’s lead in election polls. We’re also waiting until 11am PDT for the Fed to announce their update on how they want to affect interest rates. This can certainly affect the value of the U.S. Dollar and Gold depending on their outlook, making today a very active day in the markets. At 11 am PDT today, Gold is trading at $1306 per ounce, up $15 on above average volume.

SILVER

Silver is following Gold’s lead as it gets closer to the $19 per ounce level again, but we’ll wait to see how the Feds decision will affect Silver as well. At 11am PDT today, Silver is trading at $18.68 per ounce, up $0.24 per ounce on above average volume.