Daily Market Report 10/15/13

GOLD

Early this morning Gold tested the important $1,250 per ounce support level and held. After Gold’s support was tested it quickly rallied back to $1,270 per ounce on heavy volume. All eyes are focusing on the Congressional problems to raise the debt ceiling and reopen the government.

At 11am PDT today, Gold is down $4 per ounce, trading at $1,274 per ounce on heavy volume.

SILVER

Silver did reach $20.50 this morning when Gold was trading near $1,250 per ounce, then rallied back above $21.00 per ounce.

At 11am PDT today, Silver is trading at $21.24 per ounce, down $0.16 per ounce on excellent volume.