Daily Market Report 2/3/14

GOLD

Today, the Institute for Supply Management (ISM) said its index of national factory activity fell from a recently revised 56.5 in December, to 51.3 last month, its lowest level since May 2013. This news, combined with disappointing January retail sales, has caused the U.S. stock market (DJIA) to immediately fall over 200 points, and Gold to rally $15 per ounce. At 11am PDT today, Gold is trading at $1,260 per ounce, up $19 per ounce on excellent volume.

SILVER

Silver tested $19 per ounce support early this morning and held, reaching at low of $19.06 per ounce. Silver then followed the Gold rally, reaching a high of $19.66 before seeing short term profit taking. At 11am PDT today, Silver is up $0.24, trading at $19.40 per ounce on excellent volume.