Daily Market Report 12/9/14

GOLD

Gold tested the next resistance level of $1,240 by reaching $1,238 per ounce this morning. This first attempt was driven by a weaker U.S. Dollar and fresh buying, with excellent trading volume that was about double that from yesterday.

At 11am PST today, Gold is trading at $1,234, up $36 per ounce on excellent volume.

SILVER

There was strong demand in the Silver market from the open. Today’s Silver price broke above $17 per ounce on trading volume that was about double that of yesterday.

At 11am PST today, Silver is up $0.78 per ounce, trading at $17.11 per ounce on heavy volume.