Daily Market Report 9/28/12

GOLD

As today is the end of Gold trading for the third quarter, let’s look at the performance of Gold during this period. For the 3third quarter of 2012, Gold has increased $168 per ounce (10.4%).

With Gold trading at $1,772 per ounce at 11am PDT today, that means for the month of September, Gold has increased $85 per ounce (5%). Professional commodity traders are calling Gold both a short term and long term bull market and are aggressive buyers on any pullback. Lastly, for the seventh week in a row, Gold’s largest price increase has happened on a Thursday/Friday, a trend that should take Gold to new all-time highs by year end.

SILVER

If you are happy with the third quarter increase in the Gold market, you are going to be ecstatic about the performance of Silver. For the third quarter of 2012, Silver has increased $6.91 per ounce (25%). With Silver trading at $34.52 per ounce at 11am PDT today, that means for the month of September, Silver has increased $3.08 per ounce (9.8%). The next resistance number is $35 per ounce, and after that is $38 on its way to break above $40 per ounce. During the past month physical demand for Silver has increased dramatically and Silver (look at the numbers) has outperformed Gold.