Daily Market Report 7/30/15

GOLD

Today, Gold tested the support line of $1,080 and the resistance level of $1,100 per ounce and held both times. This morning Gold hit a low of $1,082 and a high of $1,099 per ounce. At 11am PDT today, Gold is trading at $1,090 per ounce, down $12 from yesterday’s after-market trading on average volume.

SILVER

Silver continues to trade in a narrow high/low price range, between $14.60 and $14.90 per ounce. I believe Silver is looking for price direction from Gold. Gold moving above $1,100 per ounce would definitely help Silver break above the $15 per ounce resistance level. At 11am PDT today, Silver is down $0.09, trading at $14.80 on normal volume.