Daily Market Report 5/1/15

GOLD

The Gold bears were able to drive the price below the $1,180 support level this morning on light trading volume. At one point the Gold price traded at $1,170 per ounce, then quickly rallied back to $1,175. It’s important that Gold moves back above the $1,180 area on Monday. At 11am PDT today, Gold is down $9 per ounce, trading at $1,175 on light volume.

SILVER

Silver has found good demand any time it trades below $16 per ounce. Asian demand continues to be strong for Silver physical investment products. At 11am PDT today, Silver is trading at $16.13 per ounce, down $0.02 on light volume.