Daily Market Report 12/10/15

GOLD

Gold traded today in a $7 low/high range ($1,069 to $1,076 per ounce) on light volume. Right now Gold appears to be treading water, waiting for a direction. The support and resistance levels are $1,060 and $1,085 per ounce, Stay tuned for a break upward/downward before the end of the year. At 11am PDT today, Gold is trading at $1,073, down $1 per ounce on normal volume.

SILVER

Demand for physical Silver investment products (coins and bars) continues at a record pace, but the spot Silver price isn’t showing it. There is a spike in volume when the commodity market contracts drop below $14.10, but we see selling at around $14.30 per ounce. At 11am PDT today, Silver is down $0.04, trading at $14.13 per ounce on average volume.