Daily Market Report 9/26/13

GOLD

Gold opened lower today based on a strengthening of the U.S. Dollar which is due to a better than expected weekly jobless claim report. The Congressional Budget debate and upcoming concerns over raising the debt ceiling is giving support to the Gold price, but the market is range bound. Gold is showing firm support at $1,315 per ounce, with resistance at $1,335.

At 11am PDT today, Gold is trading at $1,325, down $12 per ounce on average volume.

SILVER

Silver briefly broke above $22 per ounce, rallying as high as $22.12 before seeing selling. Silver needs to get back above the $22 per ounce level to regain professional trader support.

At 11am PDT Today, Silver is down $0.11 per ounce, trading at $21.72 per ounce on normal volume.