Daily Market Report 7/22/15

GOLD

Gold has traded above and below the $1,100 per ounce price level today on excellent volume. The recent low for Gold is $1,080 and a bargain price for Gold attracts heavy buying. It was reported that Russia purchased 25 tonnes of Gold in June. At 11am PDT today, Gold is down $10, trading at $1,094 per ounce on excellent volume.

SILVER

Silver has been surprisingly strong considering the weakness in the Gold price. There is sizeable support around $14.60, and resistance as it approaches the $15 per ounce level. At 11am PDT today, Silver is trading at $14.80 per ounce, unchanged from yesterday’s close on good volume.