Daily Market Report 8/24/15

GOLD

The U.S. Dollar continues to weaken versus the Euro and physical demand for Gold investment products remains very strong for Gold bars and coins. This morning Gold reached $1,170 per ounce on excellent volume, before traders took some short term profits. Equity markets around the globe continue to decline, with the Dow/Jones down another 300 points. At 11am PDT today, Gold is trading at $1.155 per ounce, down $3 on excellent volume.

SILVER

Silver broke down below its recent $15 per ounce support level, but quickly rallied back above as Gold moved higher. In the U.S. Markets, Silver couldn’t hold the $15 level and sold off again when Gold was unable to stay above $1,160 per ounce. At 11am PDT today, Silver is down $0.40 per ounce, trading at $14.90 per ounce on sizeable volume.