Daily Market Report 11/16/15

GOLD

What happened last night in Asia when the Gold market opened after the ISIS attack in Paris? Gold quickly rallied up $16 per ounce, reaching a high of $1,098 on fresh buying. Then, as the Gold market rolled into European and U.S. trading, the price sold off. Many traders, seeing that the strength of the rally couldn’t move it above the key $1,100 resistance level, decided to short sell the market, which drove the price back to $1,084. At 11am PDT Today, Gold is trading at $1,083 per ounce, up $2 on good volume.

SILVER

Silver moved up with Gold in Asian trading, reaching a high of $14.48 per ounce, but quickly sold off in European and U.S. trading, dropping back to $14.17. At 11am PDT Today, Silver is up $0.06, trading at $14.26 per ounce on good volume.