Daily Market Report 1/29/15

GOLD

Gold was hit with heavy short term selling this morning. The heavy selling resulted from news of Germany falling into a deflationary cycle, Denmark cutting its interest rates for the third time in 10 days, and the U.S. labor department reporting that jobless claims fell to the lowest level since 2000. At 11am PST today, Gold is trading at $1,258 per ounce, down $28 on heavy volume.

SILVER

Silver followed Gold lower, hitting a low of $16.73 per ounce. At 11am PST today, Silver is down $1.20 per ounce, trading at $16.88 on heavy trading volume.