Daily Market Report 11/24/14

GOLD

For the past week Gold has been building a base in the $1,200 price area. This morning Gold rallied above the $1,200 price, reaching $1,204.60 before seeing sellers. With the U.S. Dollar trading higher versus the Euro and Yen, it isn’t surprising to see Gold trade in a narrow range.

At 11am PST today, Gold is trading at $1,198 per ounce, unchanged from Friday, with average trading volume.

SILVER

Silver reached $16.53 per ounce earlier this morning before moving back into its $16.30 to $16.50 trading range. A little consolidation is healthy for Silver since it has moved over $1.40 from it’s November 7th low of $15.04 per ounce.

At 11am PST today, Silver is up $0.07 per ounce, trading at $16.44 per ounce on average volume.