A-Mark Bullion Update
The euro losing ground against the USD caused gold to back off its four month high in the low $1,190s that it achieved last week. After an impressive multi-week run up, gold is still maintaining its footing at these higher levels and is consolidating around its 200 day moving average at $1,176.  Coin and bar demand in the US has abated with the higher gold prices but this may be offset by physical demand in India improving ahead of the Diwali festival. Silver continues to struggle to stay afloat above the psychological level of $16, also its 200 day moving average. It has now trended modestly lower for three days.