Daily Market Report 12/5/14

GOLD

Today’s report from the U.S. Department of Labor, showing an increase of 321,000 new jobs in November, affected precious metals negatively. The jobs increase puts 2014 on track to be the best year for U.S. jobs since 1999, while keeping the unemployment rate at 5.8%.

At 11am PST today, Gold is trading at $1,190 per ounce, down $17 per ounce on normal volume.

SILVER

Silver was also negatively affected by the November jobs report, driving the price down to test support at $16.20 per ounce. Sales of physical Silver investment products will probably set an all-time record this year, as mints around the world are having a difficult time filling demand.

At 11am PST today, Silver is down $0.25 per ounce, trading at $16.30 per ounce on average demand.