Daily Market Report 4/15/16

GOLD

It appeared that the recent round of short term selling, which took the Gold price down to $1,225, has ended. That price correction was due to a stronger U.S. Dollar and a drop in the Gold ETF Fund’s holdings. The price of Gold has moved higher since the Asian markets opened this morning. At 11am PDT today, Gold is trading at $1,234, up $9 per ounce on average volume.

SILVER

Silver continues to be the best preforming precious metal as it approaches its recent highs. The fact that Silver held above the key $16 per ounce support level earlier this week as Gold sold off $35 is very impressive. At 11am PDT today, Silver is up $0.14 per ounce, trading at $16.28 on normal volume.