Daily Market Report 2/19/14

GOLD

After nine consecutive trading days of moving higher (up $74) Gold is finally taking a breather. Price consolidation would be very healthy for Gold, allowing it to build new long positions above the key $1,300 per ounce support level. At 11am PDT today, Gold is trading at $1,320 per ounce, down $4 per ounce on excellent volume.

SILVER

Silver traded today in a narrow $0.34 per ounce price range -- very healthy considering the recent rally. Like Gold, price consolidation would be good for Silver, as long as it stays above the $21 per ounce support level. At 11am PDT today, Silver is down $0.06 per ounce, trading at $21.84 per ounce on normal volume.