Daily Market Report 2/13/15

GOLD

Gold bottomed out in Asia this morning as a fresh wave of buyers appeared after the open. After hitting a monthly low of $1,216 on Wednesday, we saw excellent consolidation and the buyers came in today. Like I have said many times, the Chinese love cheap Gold and they are major physical buyers. At 11am PST today, Gold is trading at $1,229 per ounce, up $5 on excellent Friday volume.

SILVER

Silver reacted to the strength in the Gold price and quickly rallied back above the $17 per ounce. At 11am PST today, Silver is up $0.46 per ounce, trading at $17.30 per ounce on average volume.