Daily Market Report 10/21/14

GOLD

Gold reached a high of $1,255.50 per ounce in early trading today. For most of the trading day Gold has held above the key $1,250 per ounce level.  As I have mentioned many times, $1,250 is an important resistance level and Gold needs to stay above this level to become short term bullish.

At 11am PDT today, Gold is trading at $1,250.30 per ounce, up $5.30 on good trading volume.

SILVER

Silver rallied with Gold early this morning, reaching a high of $17.69 before seeing selling.

At 11am PDT today, Silver is up $0.12 per ounce, trading at $17.54 on average volume.