Daily Market Report 1/29/16

GOLD

Today is the last trading day for the month, and January has been a good month for Gold owners, with the price up 5.2%, a $66 increase. One of the contributing factors to the Gold rally in January was the 1,000+ point decline in the DJIA. Gold demand continues to grow as the U.S. Mint sold 124,000 ounces of Gold Eagles in January, up 53% compared to January 2015 sales of 81,000 ounces. At 11am PST today, Gold is trading at $1,116.50 per ounce, up $1 on average Friday volume.

SILVER

Silver traded in a narrow $0.17 high/low range from $14.33 to $14.16 per ounce. Silver continues to show excellent demand as it consolidates its $0.47 increase for January. At 11am PST today, Silver is up $0.02 per ounce, trading at $14.28 on normal volume.