Daily Market Report 12/9/15

GOLD

Gold continues to see bargain buying at the $1,070 per ounce level. It appears that the Gold price is treading water between $1,070 and $1,085 per ounce, waiting for a firm direction. A few positive signs are that the Gold equities market has been firm and this is happening in the face of falling crude oil prices. The U.S. Dollar has shown some weakness this morning, which drove Gold up earlier this morning, reaching $1,085, before selling off. At 11am PDT today, Gold is up $1, trading at $1,074 per ounce on normal volume.

SILVER

The Silver buyers get more aggressive when the price reaches the $14.10 per ounce level. However, selling appears when the price reaches the $14.40 per ounce area. It is clear the direction of the Silver market is based on what Gold is doing. At 11am PDT today, Silver is trading at $14.17 per ounce, up $0.02 on average volume.