Daily Market Report 5/5/16

GOLD

Today is the third day in a row that the Gold price is consolidating between $1,270 to $1290 per ounce. I believe Gold is building a firm base before breaking above the key $1,300 per ounce resistance level. At 11am PDT today, Gold is down $2, trading at $1,272 on good volume.

SILVER

Silver is finding heavy futures and physical buying above $17.20 per ounce. Bargain buying was very active this morning on Asian, Middle Eastern, and European Silver markets. At 11am PDT today, Silver is trading at $17.28, up $0.03 on active volume.