Daily Market Report 7/6/15

GOLD

After yesterday’s ’No’ vote in Greece, Gold quickly rallied $8 per ounce, then the Euro fell more than 1% against the U.S. Dollar, hitting $1.08. This drove Gold back down to $1,168 per ounce. European and American stock and bond markets dropped sharply after the open today, but the U.S. Market rallied back and sold off again.

This morning, Gold quickly dropped $5 per ounce, reaching a low of $1,162 per ounce. Bargain buyers appeared and Gold rallied back to $1,167 per ounce on excellent trading volume. As we approached late trading, Germany’s Chancellor, Angela Merkel, said, “The door is still open to Greece”, which means there is a possibility of Greece staying in the Euro. Gold then quickly rallied $6 per ounce and the U.S. Stock Market dropped 100 points. At 11am today PDT, Gold is trading at $1,173 per ounce, up $8 per ounce on excellent volume.

SILVER

Today Silver hit a low of $15.52 on the initial news from Greece, then buyers appeared and quickly took Silver back to $15.88 per ounce. At 11am PDT today, Silver is up $0.12 per ounce, trading at $15.77 per ounce on excellent volume.

RARE COIN REPORT
The U.S. Mint just announced that it will be minting a 2015 High Relief Gold coin. The U.S. Gold coin will have a denomination of $100 and contain one troy ounce of .9999 24-Karat Gold. It will have a lustrous high relief surface and a classic American Gold coin design. The mintage is limited to 50,000 from the West Point Mint. The coin will be released on July 30, 2015 and we hope to have them available in MS70 from PCGS and NGC by the August 30, 2015.