Daily Market Report 06/27/14

GOLD

Gold continues to consolidate in the $1,310 to $1,323 range today, while building an excellent base for the next move higher. Physical demand within the U.S. continues to be good, which is surprising considering we are now in the summer months. At 11am PDT today, Gold is up $2.50 per ounce, trading at $1,319 on normal volume.

SILVER

The fact that Silver does not want to trade below $21 per ounce is very bullish. I see some minor resistance for Silver at $21.23 per ounce, but the trend and direction of this market is higher next week. At 11am PDT today, Silver is trading at $21.10 per ounce, unchanged from yesterday on average volume.