Daily Market Report 1/18/13

GOLD

Today the Gold price is reacting to China’s gross domestic product of 7.8% for last year, the lowest since 1999. In the fourth quarter, growth was 7.9% year-on-year, breaking a streak of seven consecutive weaker quarters. At 11am PDT, Gold is trading at $1,686.50 down $1.60 on normal Friday volume trading.

SILVER

A move above $32 per ounce for Silver is important for Silver to stay short term bullish. At 11am PDT today, Silver is up $0.11 at $31.94 on normal volume.

Physical Demand for Silver Eagles at Record Level

The United States Mint sent out an announcement late yesterday that they have sold over 6,000,000 2013 1oz Silver Eagles and they are temporarily sold out of 2013 American Silver Eagle Bullion coins. As a result, sales are suspended until we can build up an inventory of these coins. Sales may resume on or about the week of January 28, 2013. The premium on 2013 1oz Silver Eagles and Early Release sealed Monster Boxes have already started to increase.