Daily Market Report 11/12/15

GOLD

The Gold price continues to set new recent lows daily. Today Gold reached a low of $1,074.20, just $2 away from this year’s low. A high trading volume break below the $1,072 level could easily take the price down to $1,050 because of margin calls and technical short sells. However, today Gold did find excellent demand at the lows and quickly rallied back above $1,080 per ounce. At 11am PDT today, Gold is trading at $1,083 per ounce, down $3 on heavy volume.

SILVER

Silver hit another monthly low this morning of $14.19 per ounce and quickly rallied back above $14.25 on bargain buying. Due to the low price, I am seeing physical demand pick up. At 11am PDT today, Silver is trading at $14.28 per ounce, down $0.10 per ounce on excellent volume.