Daily Market Report 4/23/15

GOLD

Today Gold appears to have rebounded from yesterday’s loss and is now fighting to break the $1,200 level again. Gold continues to consolidate in the $40 trading range from $1,180 on the low, to $1,220 on the high. In the not to distant future I do expect to see Gold break the $1,200 level as physical demand for Gold investment products increases worldwide and the world’s central banks keep adding more and more Gold to build up their reserves. At 11am PDT today, Gold is trading at $1,195.66, per ounce, up $8.03 on excellent volume.

SILVER

Silver tested the $16 per ounce resistance level this morning, reaching $16.02 per ounce, but could not hold that level as the bears stepped in for some profit taking. I would hope Silver will move above the important $16 per ounce level when Gold moves back above the $1,200 per ounce level. At 11am PDT today, Silver is up $0.07 per ounce, trading at $15.91 on average volume.