Daily Market Report 06/18/14

GOLD

Gold is trading in a narrow $8 High/Low trading range today, awaiting any news from Federal Reserve Chairperson Janet Yellen during her press conference this afternoon. Most traders feel that the Fed will continue to taper its monthly quantitative easing program. At 11am PDT today, Gold is trading near the day’s highs at $1,273.20 per ounce, up $2.20 per ounce on average volume.

SILVER

I am seeing a pickup in demand for physical Silver investment (Dollars, Eagles and Trade Units), which is surprising considering we are in the summer months, normally a slow time. I believe investors are looking at how attractive the price is, with spot Silver under $20 per ounce. At 11am PDT Today, Silver is up $0.06, trading at $19.79 per ounce on light exchange volume.