Daily Market Report 04/23/14

GOLD

The news of a weak March U.S. housing market, with the Commerce Department reporting that new homes sales fell 14.5%, helped to support the Gold price today. With Gold trading in the low $1,280’s recently, I am seeing an increase in short covering and bargain buying. At 11am PDT today, Gold is trading at $1,284.50 per ounce, up $2.50 per ounce on normal volume.

SILVER

Silver traded today in a very thin 18 cent high/low price range. This market is looking for a direction and is highly influenced by Gold trading. At 11am PDT today, Silver is up $0.05, trading at $19.43 per ounce on average volume.