Daily Market Report 04/30/14

GOLD

Gold is stuck in a narrow trading range, with support at $1,285 and resistances at $1,300. A statement from the Federal Reserve is coming today in regard to their tapering of the current stimulus program. The precious metal and equity markets are behaving like there will be no change in the reduction. At 11am PDT today, Gold is trading at $1,295 per ounce, down $1 on average trading.

SILVER

Silver tested the $19 per ounce support level this morning, reaching a low of $19.06. Without any strength in the Gold price, Silver continues to trend lower at a higher percentage. At 11am PDT today, Silver is down $0.35, trading at $19.15 per ounce on light volume.