Daily Market Report 10/9/12

GOLD

Late yesterday the International Monetary Fund (IMF) cut its global economic growth forecast and warned things could get much worse if the eurozone crisis continues. This morning Gold tested the $1,760 support level and held. At 11am PDT today, Gold is trading at $1,766 per ounce, down $8.40 per ounce on average volume.  

SILVER

Silver has been weak from the opening this morning. At 11am PDT today, Silver is unchanged at $34.03 per ounce.