Daily Market Report 1/7/13

GOLD

Gold reached $1,662 per ounce in overnight Asian trading and when Europe and New York opened, we saw selling that drove down the price to $1,642 per ounce.  At 11am PDT Today, Gold is trading at $1,647 per ounce, down $3.20 per ounce on average volume.

SILVER 

Silver has been over and under the important $30 per ounce support level all day and I have seen more strength and demand for Silver than Gold today. At 11am PDT Today, Silver is up $0.07 per ounce, trading at $30.09 per ounce on excellent volume.