Daily Market Report 2/3/15

GOLD

Gold tested the $1,250 per ounce support level this morning, reaching a low of $1,255 at one point. Major buying appeared at that price and Gold rallied into the mid $1,260 level. Gold continues to consolidate its January rally while trading in the $1,250 to $1,290 area.

At 11am PST today, Gold is trading at $1,263 per ounce, down $16 per ounce on good volume.

SILVER

Silver tested the $17 per ounce support level this morning and held, reaching $17.05. Demand for Silver continues to be strong at the $17 plus level.

At 11am PST Today, Silver is up $0.20 per ounce, trading at $17.45 per ounce on excellent volume.