Daily Market Report 8/17/15

GOLD

Gold moved higher since the Asian opening at $1,113 per ounce. The rally took the price up to a high of $1,123 per ounce before seeing any serious short term profit taking. Both futures markets and physical Gold products demand remain strong. Price consolidation of the recent gains in the Gold price would be very healthy for the long term market price. At 11am PDT today, Gold is trading at $1,118 per ounce, up $5 on excellent volume.

SILVER

Silver opened at $15.20 per ounce in the Asian market this morning, and quickly rallied on good demand as the Gold market moved higher. Silver showed strong resistance as it approached the $15.50 per ounce level. After Silver’s recent gains it would be very healthy for the price to consolidate in the $15.20 to $15.50 per ounce trading range. At 11am PDT today, Silver is up $.08 per ounce, trading at $15.32 per ounce on normal volume.