Daily Market Report 4/20/16

GOLD

Gold tested the $1,250 per ounce support level this morning, reaching $1,246, and quickly rallied back. Considering the strength of the Silver price, I would expect to see Gold move above $1,260 very soon. At 11am PDT today, Gold is trading at $1,253 per ounce, up $1 on good volume.

SILVER

Silver continues to be the super star of precious metals. Silver hit $17.25 in early trading, then some traders took short term profits. Both physical demand and futures demand for Silver is very active. At 11am PDT today, Silver is up $0.20, trading at $17.12 per ounce on heavy volume.