Daily Market Report 1/31/14

GOLD

Gold is trading in a narrow price range today from $1,238 to $1,255 on light volume. The month of January ended today with Gold showing over a 3% increase. Comparing Gold’s January performance to the world’s equity markets shows that investors are running from stocks and bonds, as they see Gold representing an excellent investment alternative. At 11am PDT today, Gold is trading at $1,241 per ounce, down $4 per ounce on light volume.

SILVER

Today, Silver appears to have found good support and demand above $19, trading between $19.07 and $19.50 per ounce. The U.S. mint reported today selling 4,755,000 of the 1 ounce Silver Eagles for January, a record number even considering it was only for the last two weeks of the month. At 11am PDT today, Silver is down $0.09, trading at $19.16 per ounce on average Friday volume.