Daily Market Report 11/6/12

GOLD

Based on news of a big Democratic turnout and early ballots in the key swing states has caused Gold/Silver to rally sharply today. The rally is based on the belief that this news may result in President Obama’s re-election. I have been saying that the President’s re-election will quickly drive the values of Gold and Silver much higher. Earlier today Gold broke through the $1,700 resistance level on heavy demand and kept on going reaching a recent high of $1,722.10 per ounce.  At 11am PDT Today, Gold is trading at $1,714 per ounce, up $28 per ounce on heavy demand.

SILVER

Silver followed Gold’s rally this morning, breaking through the $32 per ounce price level on heavy volume. At 11am PDT Today, Silver is up $0.88 per ounce, trading at $32.04 per ounce on excellent volume of trading. 

EARLY ELECTION RESULTS

By tradition, the town of Hart’s Location, located in Carroll County, New Hampshire, is one of two locations that get to cast the first votes of the presidential election just after midnight on Election Day. This year, the tiny town cast 23 votes for President Barack Obama, giving him the win over Republican presidential candidate Mitt Romney, who earned nine votes. Libertarian Party candidate Gary Johnson received two votes. The other location, also in New Hampshire, is Dixville Notch, which cast five votes for both President Obama and Governor Mitt Romney. In 2008, President Obama carried Hart’s Location, winning 17 votes to Senator John McCain’s 10. Ron Paul earned two write-in votes.