Daily Market Report 5/8/15

GOLD

April’s job increase of 223,000 (bringing the U.S. Unemployment rate to 5.4%) was in line with expectations. Gold quickly rallied $10 on the news and at one point reached $1,195 per ounce on normal light Friday trading. At 11am PDT today, Gold is trading at $1,189 per ounce, up $5 per ounce on light volume.

SILVER

Silver has been range bound around the $16.50 per ounce level, however physical volume is picking up in Asia. At 11am PDT today, Silver is up $0.08, trading at $16.47 per ounce on light volume.