Daily Market Report 5/5/15

GOLD

This morning the US trade deficit for March 2015 was reported. This deficit exploded to $51.4 billion, a six-year high. This was much more than the $41.7 billion economists had expected. The deficit rose by 43.1%, the largest increase in 18 years. This negatively affects the 2015 GDP, and caused Gold to test the $1,200 per ounce level in early trading. At 11am PDT today, Gold is trading at $1,194 per ounce, up $6 on normal volume.

SILVER

Silver moved higher this morning on the trade deficit news, reaching $16.75 per ounce. At 11am PDT today, Silver is up $0.13 per ounce, trading at $16.56 on average volume.