Daily Market Report 1/16/14

GOLD

Gold continues to stay in a narrow trading range between $1,235 and $1,250 per ounce, building a base for the next leg higher. Late yesterday, the U.S. House of Representatives passed a $1.1 trillion spending plan. This legislation rolls back the recent spending cuts, raises federal workers pay, and increases military spouse’s pensions. This bill, which is expected to pass the Senate, is the start of our next wave of inflationary legislation due out this election year. At 11am PDT today, Gold is trading at $1,241 per ounce, up $1 for the day on average trading volume.

SILVER

Silver is in a bull/bear war around the $20 per ounce level. While dipping below $20 this morning, reaching $19.94 at one point, it quickly rallied back on bargain buying. At 11am PDT today, Silver is down $0.06, trading at $20.06 per ounce on average trading 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].