Daily Market Report 4/3/15

GOLD

Today’s release by the U.S. Labor Department of a disappointing Nonfarm payroll status is bullish for Gold. Nonfarm payroll only increased by 126,000 jobs in March, much less than was expected and earlier reports were already revised downward. This data is a high priority for the Federal Reserve when determining the direction of interest rates. I believe this will cause many economists to push out the date of any Fed interest rate increase until 2016. This news should keep Gold above the important $1,200 per ounce resistance/support level when Gold begins trading again next week. The CME was closed today, therefore no change in the Gold price, it’s still trading at $1,201 per ounce.

SILVER

Silver is trading in the physical markets between $16.75 and $16.80 per ounce today on light Good Friday volume.