Daily Market Report 5/17/16

GOLD

George Soros, who once called Gold “the ultimate bubble,” has resumed buying the precious metal after a three-year hiatus. On Monday, the billionaire investor disclosed that in the first quarter of 2016 he made a $123.5 million investment in Gold. At 11am PDT today, Gold is trading at $1,275, up $2 per ounce on normal volume.

SILVER

Silver continues to test the key $17.00 per ounce support level, reaching a low of $17.02 in early morning Asian trading. Bargain buyers appeared again and drove the price up $0.10 per ounce. At 11am PDT today, Silver is up $0.08 per ounce, trading at $17.23 on average volume.

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