Daily Market Report 11/16/16

GOLD

Both Gold and Silver are trading in a narrow range while the price is consolidating after its recent sharp decline. We are seeing lots of bargain buying around the globe for the popular physical investment products. At 11am PDT today, Gold is trading at $1,224, down $0.11 per ounce on average volume.

SILVER

Silver is finding excellent price support at the $16.84 level, with resistance every time the price moves over $17 per ounce. Most of Silver’s margin calls and stop-loss selling has ended, so base building and a fresh rally is on the horizon. At 11am PDT today, Silver is trading at $16.95, down $0.13 per ounce on average volume.