Daily Market Report 10/22/14

GOLD

Gold has traded all day today between $1,241.20 and $1,249.80 per ounce. Gold was unable to break through the key $1,250 per ounce resistance level. This is very disappointing considering it spent most of yesterday trading above $1,250 in U.S. markets.

At 11am PDT today, Gold is trading at $1,244.50, down $5.80 on light volume.

SILVER

Silver got hammered this morning with a large sell order driving the price down to $17.12 per ounce. Silver has a very difficult time staying above $17.50 because of lack of serious buyers and professional short selling.

At 11am PDT today, Silver is $0.30 per ounce, trading at $17.24 on average volume.