Daily Market Report 9/29/14

GOLD

Gold has traded today in a narrow $8 range ($1,215 to $1,223 per ounce) on light volume. Traders refer to this type of trading as sideways trading, awaiting direction. With Gold reaching a high of $1,237 and a low of $1,206 per ounce, we are seeing it trade in the middle of the range.

At 11am PDT today, Gold is up $2 per ounce, at $1,217 on light volume.

SILVER

Silver trading activity on the CME commodity exchange is currently at the lowest level this month. This is not a good sign for the short term direction of the Silver price.

At 11am PDT today, Silver is trading at $17.56 per ounce, up $0.04 per ounce on very light volume.