Daily Market Report 1/6/14

GOLD

Today, Gold is holding firm in the $1,230 to $1,245 per ounce price range on excellent volume. Strong physical demand continues to be reported from Asia, especially China, which is helping support current levels. At 11am PDT today, Gold is trading at $1,240 per ounce, up $3 per ounce on strong trading volume.

JP Morgan has just sold the building at 1 Chase Plaza to China for $750 million. The building contains the world’s largest Gold vault, and it is also located across the street from the Federal Reserve Gold vault. This gives China a "two-fer". Now it can store the Gold in Manhattan and save shipping costs, and should the NY central bank need to deliver, it just gets rolled across the underground tunnel.

SILVER

Silver really wants to stay above $20 per ounce, with strong demand every time it dips below that level. For most of today Silver has traded between $20.10 and $20.35 per ounce. At 11am PDT today, Silver is up $0.04, trading at $20.19 per ounce.

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].