Daily Market Report 12/1/14

GOLD

Today was truly a classic Intra-Day reversal with Gold bottoming out at $1,141 per ounce and then closing on or near the day’s high, on heavy trading volume. After Gold broke above $1,200 per ounce, all the short sellers began running to cover their positions and the price continued to more higher. Trading volume is at record levels in both the futures markets and the ETF paper shares. Ever since Gold reached $1,920 per ounce on Sept 6, 2011, the Gold price has been in a decline waiting for a turn. TODAY IS DEFINITELY THAT DAY. Start adding to your Gold positions immediately!

At 11am PDT today, Gold is trading at $1,218 per ounce, up $20 since last Wednesday and up $78 since earlier this morning on very heavy volume.

SILVER

During today’s trading, Silver reached a low of $14.45 per ounce, (a five year low) then turned with Gold and rallied over $2 on HEAVY DEMAND. Today’s trading established Silver’s short term price direction; HIGHER.

At 11am PDT today, Silver is trading at $16.60 per ounce, up $0.01 since last Wednesday and up $2.15 since earlier this morning on very high trading volume.