Daily Market Report 04/02/14

GOLD

It appears that the recent decline in Gold has bottomed out around $1,277 per ounce. However, the key number is still $1,300 before traders will become bullish again. At 11am today, Gold is trading at $1,290.40, up $9.40 per ounce on excellent volume.

SILVER

Silver has moved above the key $20 per ounce resistance level on excellent volume. During the past 5 trading days, Silver has outperformed Gold and if Silver can stay above $20 until the end of the week, it would be very short term bullish. At 11am today, Silver is trading at $20.02 per ounce, up $0.28 per ounce.