Daily Market Report 5/16/16

GOLD

Gold opened $5 higher this morning in Asian trading upon news of slowing Chinese economic growth and a small selloff in Asian stock markets. At 11am PDT, Gold is down $1 per ounce, trading at $1,273 on average volume.

SILVER

Silver reached a low of $17.04 (above the key $17 per ounce support level). At that point, bargain buying appeared and the Silver price rallied $0.20 on excellent volume. At 11am PDT, Silver is trading at $17.16 per ounce, up $0.04 on normal volume