Daily Market Report 10/28/14

GOLD

Gold started to rally in early morning trading, reaching a high of $1,235.90 before hitting major resistance. Tomorrow’s Federal Reserve Open Market Committee statement should provide short term direction for the Gold price.

At 11am PDT today, Gold is trading at $1,229, down $0.70 on light volume.

SILVER

The Silver price was driven down to $17.05 per ounce this morning before finding support and an increase in demand.

At 11am PDT today, Silver is up $0.05 per ounce, trading at $17.23 on average volume.