Daily Market Report 8/09/12

GOLD

Gold rose today after China’s factory output activity unexpectedly slowed in July to its weakest in more than three years, which leaves room for policymakers to adopt a bullion-friendly monetary stimulus policy to meet China’s annual 7.5 percent growth target. At 11am PDT, Gold is up $3.60 per ounce, trading at $1,616.80 per ounce on average volume.

SILVER

Silver trading today was lackluster as the market price held in a very thin .44 cent range. At 11am PDT, Silver is trading at $28.17 per ounce, up $0.05 per ounce on light volume.

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