Daily Market Report 8/22/12

GOLD

Yesterday, Gold broke out of its five month trading range. Today, trading has confirmed the break out as it continues to increase. We could easily see Gold reach $1,700 per ounce by month end. At 11am PDT, Gold is up $7.00 per ounce, trading at $1,645 per ounce on heavy volume.

SILVER

Silver is continuing it move higher, hopefully to the important $30 per ounce level. Today, at 11am PDT, Silver is up $0.20, trading at $29.65 per ounce on a better than average volume of trading.

PLATINUM & PALLADIUM

Both Platinum and Palladium continue to rally. At 11am PDT, Platinum is up $19 at $1,524 per ounce, and Palladium is up $10 at $630 per ounce, both on excellent volume.