Daily Market Report 1/26/16

GOLD

Chinese shares dropped 6% in overnight trading, and crude oil prices fell to under $30 a barrel, causing fresh Gold buying. Today the Gold price is off and running, reaching a high of $1,121.60 per ounce, the highest price it has hit this year. At 11am PST today, Gold is trading at $1,121 per ounce, up $16 on excellent volume.

SILVER

Silver just broke above the recent resistance level of $14.20 per ounce on heavy volume. Silver reached a high of $14.59 before seeing light short term profit taking. At 11am PST today, Silver is up $0.25 per ounce, trading at $14.50 on heavy volume.