Daily Market Report 4/1/16

GOLD

After the March job numbers were released early this morning both the Gold and Silver price got hit. A good jobs number makes analysts anticipate that the Federal Reserve could raise interest rates quicker than originally thought. After the news Gold was quickly sold down to $1,209 before finding major buying. At 11am PDT today, Gold is down $11, trading at $1,222 per ounce on active volume.

SILVER

Silver reached a low this morning of $14.78 after the job numbers showed an increase of 215,000 and the unemployment rate was reported at 5%. At that point we saw an increase in volume as bargain buyers got aggressive. At 11am PDT today, Silver is trading at $15.08 per ounce, down $0.34 on heavy volume for a Friday.