Daily Market Report 07/18/14

GOLD

A combination of the Malaysian Aircraft being shot down over Ukraine and the Israeli forces moving into the Gaza Strip has heightened Geopolitical concerns, which drove up precious metal prices yesterday. Gold had successfully rallied back above the $1,300 resistance level on Thursday before the news was released, which drove up the Gold price another 1%. Today, at 11am PDT, Gold is down $8 per ounce, trading at $1,309 per ounce on average volume.

SILVER

Silver reached a high of $21.30 yesterday and a low of $20.78 today, while trying to find support above the key $21 per ounce support level.Today, at 11am PDT, Silver is trading at $20.85 per ounce, down $0.37 per ounce on normal volume.