Daily Market Report 12/30/15

GOLD

A combination of year-end tax selling, a firmer U.S. Dollar, and weakness in the oil prices has resulted in the last Bear Attack on the Gold price today. I still believe that 2015 will be the year Gold ends its four year bear market, with the Dec. 3rd 2015 low of $1,045.40 per ounce being the bottom. Gold did hit a low of $1,059.80 per ounce in early Asian trading. At 11am PST today, Gold is trading at $1,061 per ounce, down $8 per ounce on the highest volume of the week.

SILVER

Silver fell with Gold today, reaching a low of $13.75 before seeing bargain buyers. Physical demand continues to be strong during the holidays. At 11am PST today, Silver is down $0.15 per ounce, trading at $13.82 on better than average volume.