Daily Market Report 4/29/15

GOLD

A combination of this morning’s weak GDP report (showing that the first quarter only had growth of .02%) and today’s Federal Reserve report, should be negative for equities and the U.S. Dollar. Today, the U.S. Dollar fell to 1.11 versus the Euro and Gold moved up $6 from the $1,204 low. In today’s Federal Reserve report the Feds removed any indication of a date for the next rate hike. So, my prediction for next year is looking better. At 11am PDT today, Gold is trading at $1,205, down $9 per ounce on average volume.

SILVER

Excellent demand for physical Silver investment products has provided excellent price support for the metal. At 11am PDT today, Silver is down $0.10, trading at $16.60 per ounce on normal volume.