Daily Market Report 9/4/14

GOLD

This morning the U.S. Dollar increased sharply versus the Euro after the European Central Bank cut interest rates to record lows to stimulate their economies. A very strong U.S. Dollar is a major negative for Gold (as American’s value Gold in Dollars) and Gold quickly fell to $1,264 per ounce, where it found excellent demand.

At 11am PDT today, Gold is trading at $1,266 per ounce, down $4 per ounce from yesterday.

SILVER

Silver continues to show excellent demand above the $19 per ounce support level. Domestic demand for Silver investment products is still good, with the U.S. Mint selling over 2 million 1oz Silver Eagles in the month of August.

At 11am PDT today, Silver is down $0.10 per ounce, trading at $19.10 per ounce on average volume.