Daily Market Report 12/2/14

GOLD

Today the U.S. Dollar strengthened significantly versus the Euro, coming down to $1.22 to 1. The strong dollar helped drive down the value of Gold to under $1,200 per ounce. Considering yesterday’s $80 Gold rally, a small correction would be expected. Gold has traded in the U.S. markets above and below the $1,200 per ounce level for most of the day.

At 11am PST today, Gold is down $19 per ounce, trading at $1,199 per ounce on average volume.

SILVER

Silver tested the $16 support level this morning, reaching $16.06 per ounce. At that point Silver showed excellent demand and the price quickly rallied higher.

At 11am PST today, Silver is trading at $16.40 per ounce, down $0.20 per ounce on average volume.