Daily Market Report 8/9/13

GOLD

Yesterday was the most positive day I have seen for Gold in the past two weeks. Not only was it up $24 per ounce, but it successfully moved above the key $1,300 per ounce resistance level on the highest volume of the week. Today, Gold is holding in a tight price range above $1,300 per ounce.

At 11am PDT today, Gold is trading at $1,313 per ounce, down $0.40 per ounce on average volume.

SILVER

Silver pretty much mirrored the activity of Gold yesterday. It went up on the Chinese news and was brought above the key $20 per ounce resistance level on the heaviest volume of the week. Trading today is excellent for Silver as it tests yet stays above $20.00 per ounce.

At 11am PDT Today, Silver is up $0.19 per ounce, trading at $20.54 per ounce on normal Friday light volume.