Daily Market Report 11/14/14

GOLD

Fridays must be bullish for Gold. Last Friday Gold was up $27 per ounce on high volume and today we are seeing a similar rally. Today’s Gold rally comes in the face of a strong U.S. Dollar, particularly against the Japanese Yen. At one point this morning Gold hit a high of $1,194 per ounce, well above the $1,180 per ounce resistance level and within striking distance of the key $1,200 long term resistance level.

Today the University of Michigan released its consumer sentiment index showing an increase to 89.4, the strongest level since July 2007 and up from a final reading of 86.9 in October.

Great article on our website about Russia moving away from the U.S. Dollar to the Chinese Yuan for its national reserves. See http://www.mintstategold.com/investor-education/cat/news/post/russia_chinese_currency/

At 11am PST today, Gold is trading at $1,188 per ounce, up $26 per ounce on heavy volume.

SILVER

Silver took off when the Gold price rallied today, reaching $16.40 per ounce (which breaks above the key $16.00 resistance level) on excellent trading volume. At 11am PST today, Silver is up $0.63 per ounce, trading at $16.27 per ounce on heavy trading volume.