Daily Market Report 9/03/14

GOLD

Gold bottomed out yesterday at $1,261 per ounce on heavy trading with over 191,000 CME hundred ounce December contracts traded. Today, it’s bargain buying that is giving the Gold price support. At 11am PDT today, Gold is trading at $1,270 per ounce, up $5 on excellent demand.

SILVER

Silver hit a low of $19.07 per ounce, above the major long term support level of $19. This morning, Silver rallied to $19.28 before seeing some light selling. At 11am PDT today, Silver is up $0.03 per ounce, trading at $19.20 on good volume.