Daily Market Report 4/16/15

GOLD

This morning Gold moved higher in Asian trading, reaching a high of $1,209.60. At that time selling appeared and drove the price back under the important $1,200 per ounce level. The traders term for the recent trading activity in Gold is “Range Bound”, because, with a few brief exceptions, Gold has traded between $1,180 and $1,220 per ounce. At 11am PDT, Gold is trading at $1,200 per ounce, down $2 per ounce on average volume.

SILVER

Today Silver has traded between $16.12 (low) and $16.54 per ounce (high) with light volume. Physical demand for Silver investment products has slowed down due to tax time concerns. At 11am PDT, Silver is $16.35 per ounce, unchanged on light volume.