Daily Market Report 12/20/13

GOLD

Yesterday, the bears took control of the precious metal markets on the heaviest volume I have seen in weeks. Gold broke down below the key $1,200 per ounce level and kept on going, reaching $1,186 per ounce, before finding some short covering support. CNBC wrongly reported all day yesterday that $1,186 was a three year low for Gold. They must have not looked at June 28th 2013, when Gold reached $1,179.40.

This morning Gold found good support above $1,190 per ounce from Asian bargain buying. The buying continued in London and the United States, sending Gold back above the important $1,200 per ounce support/resistance level. The big question is, will Gold stay above $1,200 per ounce next week? At 11am PDT today, Gold is trading at $1,203.00 per ounce, up $6 per ounce on better than average volume for a Friday.

SILVER

As Gold declined yesterday, Silver followed reaching a low of $19.10 per ounce. At that point, there was excellent demand and the price rallied above $19.20 per ounce. This morning the buying continued in Asia, London and the US, taking the market back into the $19.40 area. At 11am PDT today, Silver is up $0.14 per ounce, trading at $19.42 per ounce on average volume.

Pre-order 2014 First Strike Silver Eagles

Stuppler & Company is now accepting orders for 1st Strike U.S. 2014 Silver Eagles at only $4.24 over spot in lots of up to 499, and $3.99 over spot for 1st strike in the Green Monster box (500 coins).

You can lock in today’s low Silver price for delivery early in 2014. Call or email me at 888-454-0444 or [email protected].