Daily Market Report 1/24/14

GOLD

Today, the U.S. stock markets continue to decline and Gold continues its move higher. Earlier this morning Gold was able to move above its $1,270 per ounce resistance level, reaching $1,272.80 per ounce. At that point we saw some light short term profit selling causing the price to drop back to $1,260 per ounce. At 11am PDT today, Gold is up $2.50 per ounce, trading at $1,266 per ounce on excellent volume for a Friday.

SILVER

Silver was unable to stay above the key $20 per ounce level today, after rallying in early trading to $20.32 per ounce. At one point this morning the market did hit the $19.70 support level before I saw short covering. Remember, the professional commodity traders are selling on rallies and covering under $20 per ounce. Silver needs to breakout above $20.70 per ounce to change the current trading strategy. At 11am PDT today, Silver is trading at $19.80 per ounce, down $0.24 per ounce on average volume.

2014 First Strike Silver Eagles

Stuppler & Co. now has 2014 First Strike Silver Eagles available for purchase at only $3.99 over spot in lots from 100 to 499, and $3.89 over spot for First Strike in the Green Monster box (500 coins).

Visit our website at www.mintstategold.com to make your purchase or call or email me at 888-454-0444 or [email protected].