Daily Market Report 10/10/14

GOLD

Gold traded in a very narrow $8 high/low price range today ($1,217 to $1,225). The bias continues to be negative, considering this week’s very bullish precious metal news from the IMF and Federal Reserve, Gold should be $50 higher.

At 11am PDT today, Gold is trading at $1,221.70, down $2.30 per ounce on light volume.

SILVER

Silver had a difficult time staying above the $17.40 price level this morning, while trading in a narrow range.

At 11am PDT Today, Silver is down $0.08 per ounce, trading at $17.34 on light volume.