Daily Market Report 6/12/15

GOLD

Gold traded today in a very thin $8 High/Low price range. The high was $1,184 and the low was $1,176 per ounce. This being Friday a narrow trading range on light volume isn’t surprising. I look for a breakout of the recent trading range very soon. At 11am PDT today, Gold is trading at $1,180.50 per ounce, down $0.50 on light volume.

SILVER

Silver couldn’t hold above the important $16 per ounce resistance/support level this morning. After reaching a high of $16.10, Silver quickly sold off, hitting a low of $15.83 per ounce. At 11am PDT today, Silver is down $0.12 per ounce, trading at $15.90 on modest volume.