Daily Market Report 7/13/15

GOLD

This morning, Gold quickly dropped $9 per ounce, reaching a low of $1,151 per ounce, then rallied back $6 on heavy buying. The market-moving news this morning is the agreement, in principal, of a bailout for Greece. Greece needs to implement bold reforms and accept a high level of external economic supervision in return for a possible €82bn-€86bn.

Over the weekend a tentative deal with Iran was reached. The deal would limit their nuclear development in exchange for a lifting of the United Nations embargo.

At 11am PDT today, Gold is trading at $1,157 per ounce, down $3 on excellent trading volume.

SILVER

Silver continues to trade above and below the $15.50 per ounce level as demand increases. At 11am PDT today, Silver is trading at $15.52 per ounce, down $0.05 per ounce on excellent volume.