Daily Market Report 12/14/12

GOLD

Gold traded in a very narrow $7 high/low price range today on normal low Friday volume. I need to see Gold move back above the key support $1,700 per ounce level on Monday to stay short term bullish. It was released today that European Gold demand for investment and jewelry products increased 15% in 2012 and is predicted to increase further next year.

At 11am PDT today, Gold is trading at $1,697, up $2 per ounce on light volume.

SILVER

Total Silver demand in China has grown by over 100 million ounces in the past ten years, to a record 170.7 million troy ounces. For more details see http://www.mintstategold.com/investor-education/cat/news/post/china_major_role_Silver_market/. 

At 11am PDT today, Silver is trading down $0.14 per ounce, at $32.26 on light volume.