Daily Market Report 1/2/14

GOLD

Gold has started 2014 with a nice rally due to fresh buying and no more year-end selling. Historically, January has been a good month for precious metals and I see no reason why this month will not show good increases for the Gold price. At 11am PDT today, Gold is up $24 per ounce, trading at $1,227 per ounce on excellent volume.

SILVER

The key to Silver’s future price is the $20 per ounce support/resistance level. Today, Silver rallied sharply with the Gold increase, reaching $20.46 per ounce before seeing sizeable profit taking. Many of the professional commodity traders like short selling Silver at that resistance point because it is a profitable trade to cover those sales when it dips back below $20. At 11am PDT today, Silver is trading at $20.10 per ounce, up $0.66 on good volume.

Pre-order 2014 First Strike Silver Eagles

Stuppler & Company is now accepting orders for 1st Strike U.S. 2014 Silver Eagles at only $4.19 over spot in lots of up to 499, and $3.99 over spot for 1st strike in the Green Monster box (500 coins).

You can lock in today’s low Silver price for delivery early in 2014. Call or email me at 888-454-0444 or [email protected].