Daily Bullion Market Update 10/11/11

By Barry Stuppler – MintStateGold.com

GOLD

In late trading Monday, the gold price reached $1,685 before we saw some light profit taking. Global gold demand is still strong with the market trading overnight in the $1,655 to $1,685 price range. The market sold off this morning on concerns over the Slovakia vote on passage of the Eurozone’s EFSF bailout fund. At 11am PDT gold was trading at $1,661 per ounce, down $9 for the day on moderate volume.

SILVER

Investor demand for Silver has substantially picked up in Asia. There was sizeable bidding for silver around $31.30 in India last night. Domestically, demand for silver investment product is causing some physical shortage in the supply chain. At 11am PDT Silver was up $0.14, trading at $32.19 on excellent volume.

Posted in: Bullion & Metals

About the Author:

Barry Stuppler & Co. offers a great selection of gold and silver, rare and investment quality coins to our valued clients. As the current elected president of the 30,000 member American Numismatic Association (ANA) and the president of the California Coin and Bullion Merchants Association (CCBMA), Barry Stuppler brings expertise and integrity to the numismatic trade.

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