Daily Market Report 10/27/15

GOLD

Gold trading yesterday and today reminds me of watching paint dry. There is little to no activity, with a tight high/low price range ($1,168 to $1,160 per ounce) and very light trading volume. Why? Traders are focusing on news that may come out of the upcoming Federal Reserve meeting. The U.S. Dollar is also trading in a tight range after last week’s rally against the Euro. At 11am PDT today, Gold is trading at $1,165 per ounce, up $1 on light volume.

SILVER

Today, Silver reached a high of $15.98 before seeing light selling. Physical demand for Silver investment products remains strong, but the heavy backlog of orders is clearing up. At 11am PDT today, Silver is down $0.02 per ounce, trading at $15.88 per ounce on light volume.