Daily Market Report 9/22/14

GOLD

Gold continues to reach new lows during trading. This morning Gold hit a low of $1,208.40 before bargain buying appeared, driving the price back up to $1,214 very quickly. Gold is still in the bears control and we could see lower lows by month end.

At 11am PDT today, Gold is trading at $1,217.40 per ounce, up $1.40 per ounce on average volume.

SILVER

Silver continues its decline, with the price dropping to $17.34 per ounce this morning. I needed to go back to March of 2010 to find Silver trading at that low of a price. Silver did rally quickly to above $17.60 per ounce, after reaching this morning’s low.

At 11am PDT today, Silver is down only $0.04 per ounce, trading at $17.84 per ounce on excellent volume.