Daily Market Report 7/08/13

GOLD

Friday’s Gold sell off drove the price down to as low as $1,206 due to the better-than-expected increase of 195,000 jobs in the June report. This beat consensus expectations of 165,000. This morning Gold opened higher in Asia and kept on rallying, reaching a high of $1,238 per ounce.

At 11am PDT today Gold is trading at $1,237 per ounce, up $12 per ounce on excellent volume.

SILVER

Silver followed Gold lower on Friday after the release of the June jobs report, reaching a low of $18.67 per ounce, before finding support. Today Silver opened higher and quickly rallied above the $19 per ounce level.

At 11am PDT today Silver is up $0.13, trading at $19.08 per ounce on excellent volume.