Daily Market Report 8/18/15

GOLD

Gold traded in a narrow high/low price range today, from $1,110 to $1,121 per ounce. We continue to see excellent price consolidation above the key $1,100 per ounce level. At 11am PDT today, Gold is trading at $1,117 per ounce, down $1 on average volume.

SILVER

Silver broke below the key $15 per ounce support level this morning, reaching a low of $14.71 per ounce. Short sellers and technical traders sold Silver after it broke below the $15 per ounce level. There were some bargain buyers in the $14.75 area, driving the price back up to $14.85. At 11am PDT today, Silver is down $0.48 per ounce, trading at $14.84 on heavy volume.