Daily Market Report 10/5/12

GOLD

This morning, Asian Gold traded at a yearly high of $1,796 per ounce on active volume. When the U.S. unemployment number showing a decline to 7.8%, for the month of September was released, Gold quickly sold off to $1,772 per ounce. Then the bulls came back, and Gold rallied back. At 11am PDT today, is trading at $1,778 per ounce, down $15.10 per ounce on heavy volume for a Friday.  

Physical Demand for Gold Eagles Increased 76% in September

Total U.S. Mint sales of the American Eagle Gold bullion coins during September soared 75.6% to 68,500 ounces compared to 39,000 ounces in August.

SILVER

Silver is building an extraordinary base in the $34 to $35 per ounce level for the past three weeks. Today, Silver reached $35.12 per ounce earlier this morning before the U.S. unemployment numbers were released. At 11am PDT Today, Silver is down $0.50 per ounce, at $34.47 per ounce.