Daily Market Report 1/20/16

GOLD

After a 1,900 point drop in the DJIA since the beginning of year and a weaker U.S. Dollar, many investors are moving to precious metals. This morning Gold has moved above the key $1,100 per ounce resistance level, reaching a high of $1,109.40 per ounce. Gold demand is strong, as the U.S. Mint has sold 95,500 ounces of Gold Eagles as of the 19th of January, compared to 81,000 for the entire month of January in 2015. At 11am PST today, Gold is trading at $1,104.50 per ounce, up $14.50 on excellent volume.

SILVER

This morning Silver continues to find fresh buyers above the $14 per ounce resistance level. Worldwide physical demand for Silver investment products remains at a record pace, with the U.S. Mint producing almost 5 million 1oz Silver Eagles as of the 19th of January. At 11am PST today, Silver is up $0.02 per ounce, trading at $14.17 per ounce on excellent volume.