Daily Market Report 2/4/15

GOLD

Gold traded in a narrow range today, consolidating for its next attempt at the important $1,300 per ounce resistance level. For most of the day Gold trading stayed in the $1,260 to $1,265 per ounce range, reaching an inter-day high of $1,272.60. At 11am PST today, Gold is trading at $1,264 per ounce, up $1 on average trading volume.

SILVER

Silver followed Gold’s lead by trading well above the $17 per ounce support level today. Silver continues to show excellent worldwide physical demand and good price support at this level. At 11am PST today, Silver is down $0.05, trading at $17.40 per ounce on average volume.