Daily Market Report 07/02/14

GOLD

This morning, the Gold market made its second attempt to break above the $1,332 per ounce resistance level, reaching $1,332.20 before seeing short term profit taking. Considering we are in the summer months, Gold demand has been surprisingly strong. At 11am PDT today, Gold is trading at $1,329 per ounce, up $3 on average volume.

SILVER

Silver continues to test the $21 per ounce support level, reaching $20.90 in early trading before finding strong demand. On the upside, Silver hit $21.32 this morning before settling back. At 11am PDT today, Silver is up $0.15 per ounce, trading at $21.21 per ounce on average volume.