Daily Market Report 12/19/14

GOLD

As we round out this week after the release of the Federal Reserve report on Wednesday, Gold is trading in a narrow $5 range in US trading. Day traders are taking a little profit off the table around the $1,200 level. As we go into the holiday week I’d like to see how Gold performs, but overall trading has been good today especially with the dollar trading slightly stronger.

At 11am PST today, Gold is trading at $1,196.10 per ounce, up $1.30 on lighter than average volume.

SILVER

Silver trading today is holding well above the $16 level even though it did test that support level a few times. We continue to see traders buying at that level. This shows that the market likes Silver above the $16 price point, which is always a good sign.

At 11am PST today, Silver is up $0.11, trading at $16.06 per ounce on light volume.