Daily Market Report 2/11/16

GOLD

Gold broke above the key $1,200 long term resistance level and the big money rushed in. Gold reached a high today of $1,262 on massive exchange trading volume of over 300,000 hundred-ounce April Gold contracts on the CME. At 11am PST today, Gold is trading at $1,248 per ounce, up $56 per ounce on massive volume.

SILVER

Silver followed Gold’s rally, moving higher on sizeable volume. Silver reached a high this morning of $15.97 per ounce before seeing some short term profit taking. At 11am PST today, Silver is up $0.50, trading at $15.74 per ounce on heavy volume.