Daily Market Report 10/2/13

GOLD

After yesterday’s $40 decline in the Gold price, the market bounced back this morning, reaching $1,323 per ounce. There was no significant news that caused this rally except that yesterday’s decline was not logical.

At 11am PDT today, Gold is trading at $1,318 per ounce, up $31 per ounce on excellent volume.

SILVER

Silver rallied with Gold this morning breaking above the $22 per ounce resistance level for a short period of time. $21 per ounce has shown to be an excellent support level.

At 11am PDT today, Silver is trading at $21.75 per ounce, up $0.67 per ounce on good volume.