Daily Market Report 12/07/16

GOLD

It appears today is a relatively calm day as the market takes advantage of a slight gain in Gold as it trades in a narrow $10 range. Things should get much more interesting as we approach next week’s Federal Reserve meeting. Everyone is curious as to what the Fed will do in their first meeting since the Presidential election. At 11am Gold is at $1,175 up $6 on average volume.

SILVER

The good news is that Silver is definitely seeing a strong return above the $17 level today, as discussed yesterday. It appears the bears, who could have fought that price point, just weren’t there. Silver safely broke that barrier as the bears covered their positions with some modest increase in buying. This is a great sign to see. At 11am Silver is at $17.25 up $0.44 on above average trading volumes.