Daily Market Report 7/10/13

GOLD

Gold declined this morning in Asia after China’s exports unexpectedly fell in June. Investors wait for the release of possibly negative minutes from the Federal Open Market Committee’s meeting last month amid bets that the U.S. Federal Reserve will begin reducing stimulus.

At 11am PDT today, Gold is trading at $1,250 per ounce, up $5 on average volume.

SILVER

Today Silver traded in a tight price range from $19.02 to $19.47 per ounce. Any consolidation above $19 per ounce would be considered short term bullish, however, I need to see Silver trade above $20 for a couple days before recommending additional purchases.

At 11am PDT today, Silver is up $0.06 per ounce, trading at $19.24 per ounce on average volume.