Daily Market Report 11/4/13

GOLD

Today, Gold is holding in the $1,315 to $1,320 area on moderate trading awaiting news from the European Central Bank on the possibility of loosening monetary policies. At 11am PDT today, Gold is trading at $1,316, up $2 per ounce on moderate volume.

SILVER

Indian demand for Gold was lower than estimated during the biggest Gold-buying festivals of Dhanteras and Diwali, celebrated last Friday and over the weekend. Many Indians were purchasing the cheaper Silver due to high Gold premiums and the scarcity of the metal, due to government restrictions, in the physical market. At 11am PDT today, Silver is down $0.15 per ounce, trading at $21.70 on average volume.