Daily Market Report 06/26/14

GOLD

Since the beginning of the week, Gold has been showing excellent consolidation between $1,305 and $1,326 per ounce, on excellent volume. I really like seeing the sizeable support every time the price gets near the $1,300 per ounce support level.

At 11am PDT today, Gold is trading at $1,316.50 per ounce, down $4.50 on average volume.

SILVER

I like seeing the recent consolidation of the Gold price, but I am pleasantly surprised that the Silver price is behaving better. Silver continues to show excellent demand when it trades under the $21 per ounce resistance level. But, considering that Silver has rallied $2.32 per ounce (12.4%) since the beginning of the month, I am amazed to see Silver keep testing the recent high of $21.17 on good volume.

At 11am PDT today, Silver is up $0.02 per ounce, trading at $21.10 per ounce on good volume.