Daily Market Report 9/2/15

GOLD

After a three day rally, Gold has settled back into its $1,120 to $1,150 trading range. Today Gold is trading in a narrow $10 high/low range between $1,132 and $1,142, showing excellent consolidation. At 11am PDT today, Gold is trading at $1,135 per ounce, down $5 with average trading volume.

SILVER

Silver continues to show heavy demand in the $14.50 and below area. At 11am PDT today, Silver is trading at $14.68 per ounce, up $.03 on normal volume.

The U.S. Mint almost reached the 5 million production mark for the U.S. 1oz .999 Silver Eagles in August. The actual mintage of Silver Eagles was 4,935,000 coins for August 2015. Compared to the 2,087,500 Silver Eagles produced in August 2014, that’s an almost 150% increase in Silver Eagle production, yet the U.S. Mint still cannot satisfy Silver Eagle demand.