Daily Market Report 12/11/15

GOLD

The bears came into the precious metal markets in Asia this morning. They were able to drive the Gold price down to $1,061.70 per ounce before sizeable buying appeared, taking the price back over $1,070 per ounce. At 11am PDT today, Gold is trading at $1,077 per ounce, up $4 on excellent volume.

SILVER

This morning the sellers were more successful in driving down the Silver price. When Gold reached its low, the Silver price hit $13.77 per ounce (a seven year low), then came back a little on Gold’s rally. Silver breaking and closing below the key $14 per ounce support level is a major negative. At 11am PDT today, Silver is down $0.21 per ounce, trading at $13.92 on heavy volume.

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