Silver Is Taking The Lead In Precious Metals

GOLD

This morning, the ISM for December was released. The report showed that manufacturing purchasing increased in December to 49.3% from 48.4% in November. It showed that our economy is growing and caused concerns about any more interest rate cuts by the Federal Reserve. Gold sold off on this news, reaching a low of $2,637 before finding strong support.

At 11am PT today, Gold is trading at $2,642 per ounce, down $13 on average volume.

SILVER

Silver reached a high of $29.98 before the ISM report came out. Silver is finding excellent demand worldwide, with Asian demand leading the market.

At 11am PT today, Silver is up $0.20 per ounce, at $29.62 on excellent volume.