Daily Market Report 4/22/15

GOLD

Gold traded above $1,200 today until the US markets opened, at which time the Bears came in, putting pressure on the market. I suspect this happened as the Eurozone released disappointing data which initially affected the US Dollar. We’re still waiting to see what happens with Greece and what major developments may be on the horizon, but until then this is leaving investors very cautious. With Gold trading near the low end of the trading range I think this is a good time to purchase Gold, barring any major market news. At 11am today, Gold is trading at $1,187.20, down $15.60 (1.3%) on above average volume.

SILVER

Silver is following Gold’s lead on average volume, trying to hold the $16 level. However, this morning Silver broke down below $16 when the US Bears entered the market. At 11am today, Silver is trading at $15.89, down $0.19 (1.19%) on average volume.