Daily Market Report 4/28/16

GOLD

Gold quickly moved above the key $1,250 per ounce price level this morning and kept on going. Many professional traders went long on Gold after firmly breaking above the $1,250 resistance level, which took the spot price of Gold to $1,266 very quickly. At 11am PDT today, Gold is up $19 per ounce, trading at $1,264 on excellent volume.

SILVER

Silver continues its 2016 rally today. Both Physical and Futures demand for Silver is growing at a record pace, with U.S. Mint sales reaching almost 19 million 1oz .999 Silver Eagles in 2016. I believe $18 per ounce is on the horizon for May. At 11am PDT today, Silver is trading at $17.56, up $0.30 on above average volume.