Daily Market Report 10/6/15

GOLD

Gold demand remains strong as the price moved higher this morning. Gold briefly rose above the $1,150 resistance level, reaching $1,151.40 per ounce before seeing some short term profit taking. At 11am PDT today, Gold is trading at $1,147 per ounce, up $10 on excellent volume.

SILVER

Silver’s rally continues, with Silver increasing $1.45 per ounce in just three trading days. Silver briefly rose above the key long term resistance level of $16 before seeing some selling. Physical shortages of Silver investment products have gotten worse with many world mints now rationing their distributors as they search for new sources of .999 Silver supply. At 11am PDT today, Silver is up $0.24 per ounce, trading at $15.90 per ounce on excellent volume.