Daily Market Report 11/27/12

GOLD 

At 11am PDT today, Gold is trading at $1,744.60 per ounce, down $4.90 per ounce on average volume of trading. Gold is trading in a narrow $10 price range showing excellent consolidation.

Eurozone Strikes Greek Aid Deal

This morning, Eurozone leadership and international lenders reached a deal to overhaul Greece’s faltering bailout program and released a €34.4bn aid payment by agreeing to a series of measures that could relieve Greece of billions of euros in debt by the end of the decade. These measures, which include reducing interest rates on Athens’ bailout loans to low rates that are intended to cut Greece’s debt levels substantially. 

SILVER

Silver is showing excellent support above the key $34 per ounce support level. Early this morning, Silver traded as low as $33.91 per ounce and quickly rallied back. At 11am PDT today, Silver is down $0.10 per ounce, at $34.05 per ounce on better than average trading volume.