Daily Market Report 11/28/12

GOLD

Earlier this morning, Gold dropped to $1,705 per ounce with very heavy volume based on negative comments coming from Senator Harry Reid on the progress of settling the Fiscal Cliff crisis before year end. After the sharp correction in the Gold price we saw sizeable demand come into the market and it rallied back to $1,720 per ounce. At 11am PDT today, Gold is trading at $1,718.70 per ounce, down $26 per ounce on heavy volume.

SILVER

Silver sold off with Gold this morning, reaching $32.90 per ounce before seeing a sharp rally higher with a large volume of trading. At 11am PDT today, Silver is down $0.39 per ounce, trading at $33.66 per ounce on heavy volume.