Daily Market Report 1/28/16

GOLD

Gold reached a high this morning of $1,125 per ounce after yesterday’s Federal Reserve dovish comments about the U.S. economy. A stronger U.S. Dollar and higher equity market caused some short term profit taking and Gold moved back to yesterday’s close. At 11am PST today, Gold is trading at $1,115.50 per ounce, down $0.50 on excellent volume.

SILVER

There was short selling in the Silver market this morning when it hit its high of $14.56 per ounce. Silver found excellent support when it dropped below $14.20 and firmed up. At 11am PST today, Silver is down $0.14, trading at $14.26 per ounce on good volume.