Daily Market Report 2/19/16

GOLD

After this year’s $200 rally, this weeks $70 selloff, and the resumption of the bullish higher trend, Gold is in a consolidation phase today. Gold traded between $1,220 and $1,235 per ounce today as fresh buying appeared. At 11am PST today, Gold is trading at $1,232 per ounce, unchanged from yesterday’s close with normal volume.

SILVER

Silver continues to show excellent support above $15.20 per ounce. Demand continues to grow as the U.S. Mint reports sales of almost nine million 1 ounce 2016 U.S. Silver eagles. At 11am PST today, Silver is down $0.06, trading at $15.42 per ounce on average volume.