Daily Market Report 9/24/14

GOLD

The U.S. Dollar hit a 4-year high today versus a basket of world currencies.  As the Dollar increases in value, it negatively affects the price of Gold.  Gold did rally yesterday, reaching $1,234 per ounce, before seeing serious selling which caused the price to immediately drop $10 per ounce.  Today, we saw Gold hit $1,215.60 before buyers appeared.

At 11am PDT today, Gold is trading at $1,217 per ounce, down $4.40 on average volume.

SILVER

Silver dropped to a low of $17.51 this morning before seeing support, driving the price back up to the $17.75 per ounce.  A negative sign for Silver is the drop in trading volumes on the CME both yesterday and today.

At 11am PDT today, Silver is down $0.11, trading at $17.70 per ounce on average volume.