Daily Market Report 08/13/14

GOLD

Gold is up slightly today in the US market after the dollar was hit due to news that was released today showing that US retail sales were less than expected in July. This news has also curbed speculation regarding an interest rate increase sooner than expected by the Federal Reserve. At 11am PDT today, Gold is up $3.57 per ounce, trading at $1,313 on above average volume.

SILVER

Silver spiked temporarily above the important $20 level at about the same time as the US July Retail numbers were released, but unfortunately couldn’t hold above this resistance level. I’d like to see how Silver acts over the next few days as the fundamentals look strong. At 11am PDT today, Silver is trading at $19.87 per ounce, down $0.09 per ounce on about average volume.