Daily Market Report 07/23/14

GOLD

Gold continues to build a base in the $1,303 to $1,312 support level. A narrow price trading range is healthy for Gold while it consolidates above the support level. I read a great article yesterday on the real meaning of what China is going to do with the massive Gold holdings it has been accumulating.

I have attached the following link to the article:
http://www.mintstategold.com/investor-education/cat/news/post/truthchinagold//post/truthchinagold/

At 11am PDT today, Gold is trading at $1,305 per ounce, down $2 on average volume.

SILVER

Silver continues to follow Gold in its consolidation phase, trading above a below the $21 per ounce support/resistance level. At 11am PDT today, Silver is unchanged at $20.96 per ounce.