Daily Market Report 5/11/16

GOLD

Gold found some fresh buying this morning in the Middle East and Europe, and rolled into the U.S. commodity markets with a $6 increase in price. Buying continued above $1,270 and reached $1,279 before some light profit taking was seen. At 11am PDT today, Gold is trading at $1,275, up $10 on good volume.

SILVER

It appears that the $17 per ounce support level held today, and as Gold moved higher, Silver followed. Demand continues to be strong for paper and physical Silver and should work its way back to the $18 resistance level this month. At 11am PDT today, Silver is up $0.23, trading at $17.31 on excellent volume.