Daily Market Report 10/25/12

GOLD

Yesterday, Gold traded down to the key $1,700 support level before a statement was released by the Federal Reserve’s FOMC. After a two-day meeting, they repeated the vow to keep rates near zero until mid-2015 and its pledge to keep supporting growth while the recovery strengthens. Remember, low interest rates are very supportive of a higher Gold price. At 11am PDT Today, Gold is trading at $1,712.75 per ounce, up $11.65 on excellent volume.

WHAT HAPPENS TO GOLD IF ROMNEY IS ELECTED PRESIDENT?

I just read a great on-point article this morning on what would happen to the Gold market if Mitt Romney was elected President of the United States. I recommend spending a few minutes to read this thought-provoking article. http://www.mintstateGold.com/investor-education/cat/news/post/is_romney_threat_to_Gold_price/   

SILVER

After the FOMC statement yesterday, Silver firmed up with strong physical demand out of Asia this morning. Silver rallied back over the important $32 per ounce support level. At 11am PDT Today, Silver is up $0.47 per ounce, trading at $32.12 per ounce on strong demand.