Daily Market Report 08/05/14

GOLD

For the most part of today’s trading, Gold is showing excellent support in the $1,284 to $1,288 per ounce price range. Trading volume on the U.S. and overseas markets is about normal for a summer month. At 11am PDT today, Gold is trading at $1,285 per ounce, down $1 per ounce.

SILVER

Silver broke below the important $20 per ounce support level this morning and kept on going lower. Silver reached a low of $19.75 before bargain buyers appeared. At 11am PDT today, Silver is down $0.40 per ounce, trading at $19.80 per ounce on average volume.