Daily Market Report 10/1/14

GOLD

Today was the bears 4th attempt to bring Gold below $1,200, with Gold reaching a low of $1,204.70 before bargain buyers appeared. The market continues to be in the hands of the bears awaiting a high volume reversal.

At 11am PDT today, Gold is trading at $1,214 per ounce, up $3.50 on average volume.

SILVER

Silver sold down to $16.86 earlier today. At that point, Silver rallied to $17.47 per ounce before the bears came back to stop the rally and drive the price lower; a classic short term bear market rally.

At 11am PDT today, Silver is up $0.17 per ounce, trading at $17.25 per ounce on normal volume.