Daily Market Report 12/10/14

GOLD

Today Gold is digesting yesterday’s $36 per ounce increase. Early in trading Gold did make another attempt to break the $1,240 resistance level, reaching a high of $1,238.70 before sellers appeared.

At 11am PST today, Gold is trading at $1,232, down $2 per ounce on average volume.

SILVER

Silver sold off in early trading, reaching a low of $16.82 per ounce, then buying appeared and the price rallied back above the important $17 level. It would be healthy for Silver to consolidate its recent move above $17 per ounce this week, and year-end buying hopefully could cause it to approach the long term $18 resistance.

At 11am PST today, Silver is up $0.08 per ounce, trading at $17.19 per ounce on excellent volume.