Daily Market Report 4/27/16

GOLD

The bulls came back to the Gold market this morning as the price moved up to $1,251.20 per ounce in Asian markets. Moving back above the key $1,250 resistance/support level is important and hopefully it will finally stay there. U.S. Federal Reserve meetings end today and they will release a statement around 11am PDT today. That statement should show that there are no interest rate increases planned; very bullish for precious metals. At 11am PDT today, Gold is up $7 per ounce, trading at $1,249 on normal volume.

SILVER

Silver’s April rally continues with it reaching a high of $17.42 per ounce in Asian trading. Many professional traders are becoming Silver believers, because after a 10% increase this month, the buyers continue to be aggressive. At 11am PDT today, Silver is trading at $17.29 per ounce, up $0.15 on good volume.

RARE COINS

I am on my way to Schaumburg, IL today for a major rare coin convention. I am hoping to pick up a major $20 Gold and $1 Silve collection, so email me updates to your rare coin want lists now. With this year’s sizeable increase in the Gold and Silver bullion markets, history has shown me that the rare coin market should have a big increase very soon.