Daily Market Report 9/25/14

GOLD

The bears took another run at the Gold price this morning. They drove the price down to $1,206 per ounce on news of a strong U.S. Dollar and continued weak economic news from Europe, Japan, and China. After reaching today’s low, bargain buyers appeared in the Gold market and quickly drove the price up $15 per ounce on excellent trading volume. Another reason Gold bounced back so quickly was due to a major sell off in the European equity market which rolled into the U.S., driving the Dow/Jones down over 200 points.

At 11am PDT today, Gold is up $6 per ounce, trading at $1,223 per ounce on excellent volume.

SILVER

Silver is not showing the same price support that Gold does, but it picks up on the general direction of Gold’s price movements. This morning Silver fell to a low of $17.35 before rallying with Gold.

At 11am PDT today, Silver is trading at $17.55 per ounce, down $0.15 on average volume.