Daily Market Report 12/31/13

GOLD

The final 5% of 2013’s tax loss and mutual fund selling drove Gold to under $1,200 per ounce in late trading yesterday. The Gold price stabilized around $1,200 per ounce until late overnight trading in Asia and Europe drove it down $20 per ounce. Gold’s price dropped to $1,182 per ounce in about an hour, but quickly rallied back to $1,214 as heavy bargain buying appeared.

Gold tested its major long term support level (the June 28, 2013 yearly low of $1,179.40) today and held, and I look for this rally to continue in 2014. At 11am PDT today, Gold is trading at $1,203 per ounce, down $1 on the day on big volume.

SILVER

Silver followed Gold lower in early Asian and Europe trading, reaching $18.72 for a very short time. Silver rallied back to reach $19.87 before seeing some short term profit taking. At 11am PDT today, Silver is down $0.20 per ounce, trading at $19.44 per ounce on heavy volume.

Pre-order 2014 First Strike Silver Eagles

Stuppler & Company is now accepting orders for 1st Strike U.S. 2014 Silver Eagles at only $4.19 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].