Daily Market Report 9/20/13

GOLD

Today we are seeing weekend profit taking from many professional traders. With a congressional budget fight and serious problems raising the debt limit on the horizon, we could see a significant rally in precious metals this month.

At 11pm PDT today, Gold is down $34 per ounce, trading at $1,336 per ounce on better than average volume for a Friday.

SILVER

Silver broke down below the $23 and $22 per ounce support levels today, dropping almost 6%. I am hoping Silver can find some Asian support at $22 per ounce over the weekend.

At 11am PDT today, Silver is trading at $21.85 per ounce, down $1.37 per ounce on normal trading volume.