Daily Market Report 12/7/15

GOLD

This morning the U.S. Dollar moved higher versus other currencies based on Friday’s upbeat U.S. jobs data. The report reinforced expectations that the Federal Reserve will raise interest rates next week. The Dollar rally caused Gold to drop $10 per ounce. At 11am PDT today, Gold is trading at $1,075 per ounce, down $9 on normal volume.

SILVER

Silver is following the price direction of Gold this morning. Demand for physical Silver investment products continues to be strong with the U.S. Mint selling a record amount of Silver Eagles in 2015. As of today the U.S. Mint has sold 44,850,000 1oz .999 Silver Eagles, an all-time record high. At 11am PDT today, Silver is down $0.17 per ounce, trading at $14.35 per ounce on average volume.