Daily Market Report 10/29/14

GOLD

Gold has been trading today between $1,221 and $1,230 with some slight activity in the New York morning hours bringing Gold to the lower end of the range. However, prices have been slowly returning back to today’s mid-ranges as we wait for the statement coming out of the Federal Reserve Open Market Committee meeting.

The U.S. Mint has sold nearly 60,000 ounces of American Gold Eagle coins so far this month; the highest sales month since January. Sales have been boosted by the heightened geopolitical uncertainty and better interest from Asian and European Buyers.

At 11am today, Gold is trading at $1,220.70 per ounce down $8.89 on slightly above average volumes.

SILVER

Silver is fairly quiet today as well, trading within a $0.15 range between $17.15-$17.30 per ounce. Silver traders are also waiting for the release of the Federal Reserve statement.

At 11am today, Silver is trading at $17.26 per ounce down $0.01 on average volume.