Daily Market Report 10/14/13

GOLD

Aided by Asian demand this morning, the Gold market rallied $10 this morning. The focus continues to be on what Congress will do regarding raising the debt ceiling and avoiding the default on our debt. The president has a meeting with congressional leaders in about one hour to deal with the government shutdown and the debt ceiling issue.

At 11am PDT today, Gold is up $10 per ounce, trading at $1,278 per ounce.

SILVER

Silver traded as low as $21.07 this morning before heavy demand rallied the market back to the $21.40 area. The U.S. Mint continues to report Silver Eagle sales are on track to set an all-time record (over 40 million), to date the Mint has sold 36,975,000 1oz .999 Silver Eagles.

At 11am PDT today, Silver is trading at $21.40 per ounce, up $0.15 per ounce on average volume.