Daily Market Report 4/27/15

GOLD

After breaking below the $1,180 to $1,200 per ounce trading range and Gold reaching a low of $1,174 per ounce last Friday, this morning the Asian bargain buyers came back. Heavy demand caused Gold to move back above the key $1,200 level, reaching a high of $1,207.60 during trading. It is still very important that Gold move out of the recent $1,180 to $1,220 trading range and above the $1,220 resistance level to regain the bullish trend. At 11am PDT today, Gold is trading at $1,202, up $25 on excellent volume.

SILVER

Silver was really beat up last week, reaching a low of $15.55 per ounce on Friday. This morning Silver found buyers and quickly rallied up to $16.51 per ounce in early Asian trading. It is important that Silver stay above the $16 per ounce level right now, but needs to move back above the $18 resistance level to regain its bullish trend. At 11am PDT today, Silver is up $0.68, trading at $16.39 per ounce on excellent trading volume.