Daily Market Report 5/9/16

GOLD

A short term rally in the U.S. Dollar has negatively affected both Gold and the commodity markets this morning. Gold demand for physical investment products remains strong. At 11am PDT today, Gold is trading at $1,264 per ounce, down $27 on average volume.

SILVER

Silver is testing its $17 per ounce support level today. After seeing a 30% increase this year when Silver hit a high of $18.06, it is expected that we would see a pull back. I believe Silver will hold the key $17 per ounce support level. At 11am PDT today, Silver is down $0.46, trading at $17.04 on active volume.