Daily Market Report 11/11/15

GOLD

I am getting very disappointed with the recent Gold trading. If Gold doesn’t rally above the $1,100 per ounce level on good volume by Friday, I think we will soon test and/or break below the July 24th low of $1,072.30. That could be the final clean out before the long awaited turn into a major bull rally. At 11am PDT today, Gold is trading at $1,086 per ounce, down $4 on average volume. I have provided a link below to a thought-provoking article about Overstock.com buying Gold and Silver to pay employees for the coming financial crisis: www.mintstategold.com/investor-education/overstock_pay_employees_in_gold_silver/.

SILVER

The Silver price continues to erode, reaching another low today of $14.24 per ounce. If Gold breaks down I think Silver will test and/or break below the $14 support level. At 11am PDT today, Silver is down $0.12 per ounce, trading at $14.38 on normal volume. The Silver Institute just posted their October Report and it is very interesting. Here is a link to the report: www.mintstategold.com/investor-education/cat/news/post/silver_report_oct_2015/.