Daily Market Report 12/05/16

GOLD

Gold sold off this morning, reaching a low of $1,157 per ounce. Bargain buyers continue to get aggressive every time Gold hits a new 9 month low. This is a classic Bull/Bear war in the Gold market around the globe. Historically, based on today’s basic fundamentals (shown in last week’s WMR), Gold always wins. At 11am PDT today, Gold is down $4, trading at $1,172. on above-average volume.

SILVER

This morning Silver sold off with Gold, then after hitting $16.50 per ounce Silver started its move higher. With Silver consolidating, as it trades between $16.50 and $17 per ounce, I need to see Silver move above the $17 per ounce level very soon. At 11am PDT today, Silver is trading at $16.77 per ounce, unchanged on above-average volume.