Daily Market Report 5/18/16

GOLD

The markets continue to consolidate while building a nice long base for the next leg up. This is very impressive news for Gold considering the U.S. Dollar is hitting a 3-week high. We are currently awaiting the FOMC meeting news, due out at 11am PDT today. At 11am PDT, Gold is trading at $1,273, down $4 per ounce on above average volume.

SILVER

Silver is testing the $17 level today, briefly hitting a low of $16.90 this morning then quickly recovering. At 11am PDT today, Silver is down $0.13 per ounce, trading at $17.10 on average volume.

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