Daily Market Report 12/01/16

GOLD

The Gold price remains on the defensive, looking for a turn-a-round. My indicators are showing that turn-a-round is coming very soon. Those indicators include precious metal equities, open interest in the futures market, trading volume and the option trading on Gold stocks especially ETF’s.

At 11am PDT today, Gold is trading at $1,172 per ounce, down $4 on heavy volume.

SILVER

Silver continues to show more price support than Gold. Silver reached a low of $16.26 this morning, then quickly rallied back to the $16.50 per ounce level. At 11am PDT today, Silver is trading at $16.58, up $.03 per ounce on active volume.