Daily Market Report 05/02/12

GOLD
Gold has been weaker today based on a stronger U.S. Dollar. Gold traded between $1,645 and $1,661 per ounce for most of the day.  At 11am PDT, Gold is down $9.10 per ounce holding at $1,653.60 per ounce.

The Commerce Department reported today that orders for goods produced in U.S. factories dropped 1.5% in March, the biggest decline in three years.

SILVER
Silver is weaker than Gold today on light volume.  Silver was range bound between $30.31 and $30.82 per ounce in slow trading.   At 11am PDT, Silver is holding around $30.55 per ounce, down $0.49 per ounce.