Daily Market Report 7/31/15

GOLD

Gold hit the $1,080 per ounce support level this morning, then reversed its downtrend after the Dollar fell based on weaker-than-expected U.S. economic data reported from the Department of Labor. Demand for Gold continues to grow with the U.S. Mint reporting sales of 170,000 ounces of Gold Eagles in July; that is a two year high. At 11am PDT today, Gold is trading at $1,098 per ounce, up $8 on excellent volume.

SILVER

Silver briefly broke above the $15 per ounce level this morning, reaching $15.03 before selling off. Silver showed excellent support at $14.50 per ounce this morning. At 11am PDT today, Silver is unchanged, trading at $14.80 per ounce on average volume.