Daily Market Report 05/06/14

GOLD

Gold traded today within a $10 high/low range ($1,314 to $1,304 per ounce) on average volume waiting for a firm direction. The fact that Gold has been able to stay above the key $1,300 level for the past three trading days is bullish, but trading volume needs to increase. At 11am PDT today, Gold is trading at $1,308, down $1 per ounce on average volume.

SILVER

Silver showed good support around $19.50 per ounce this morning in Asian and European trading. CME opened at $19.62 and the price has traded in a thin range. At 11am PDT today, Silver is up $0.07 per ounce, trading at $19.62 per ounce on light trading.