Daily Market Report 1/13/16

GOLD

This morning when Gold reached a low of $1,079.80 the buyers quickly came back. Trading volume picked up and the price of Gold moved to $1,093 before seeing some short term profit takers. Demand continues to be strong and I would like to see Gold move back above the $1,100 resistance level within the next week. At 11am PDT today, Gold is trading at $1,091 per ounce, up $5 on excellent volume.

SILVER

Silver initially dropped with Gold, reaching a low of $13.74 per ounce in early Asian trading. When Gold started its rally, Silver moved up by a larger percentage, reaching a high of $14.22. At 11am PDT today, Silver is up $0.35, trading at $14.15 per ounce on heavy volume.