Daily Market Report 12/28/15

GOLD

This morning Gold reached a high of $1,077 per ounce before seeing selling that drove the price back to $1,066 based on a stronger U.S. Dollar and a weaker oil price. Year-end tax loss selling still has me concerned, but I believe the $1,045 level (the 2015 low) will hold. At 11am PST today, Gold is trading at $1,067 per ounce, down $9 on average volume.

SILVER

Silver got hit with sellers this morning, based on the weakness in Gold. Silver broke down below the $14 per ounce level, reaching a low of $13.86 per ounce. At 11am PST today, Silver is down $0.52, trading at $13.88 per ounce on normal volume.