Daily Market Report 12/18/14

GOLD

After yesterday’s bullish report from the U.S. Federal Reserve, the volatility in the precious metal markets has increased. Today we are seeing a battle between the bulls and bears on the Gold trading exchanges. The bears were able to move the Gold price down to $1,189, then the bulls took over, driving the price up to $1,214 per ounce. After the initial trading the price stabilized and has stayed between $1,190 and $1,200 for most of the day.

At 11am PST today, Gold is trading at $1,196 per ounce, down $1 on excellent volume.

SILVER

Silver briefly broke out above the $16 per ounce resistance level, reaching $16.25, before seeing short term profit taking. For the most part, today’s Silver trading is staying in the $15.85 to $16 per ounce level.

At 11am PST today, Silver is down $0.01, trading at $15.92 per ounce on normal volume.