Daily Market Report 5/12/15

GOLD

A weak U.S. Dollar combined with fresh demand has driven the Gold price higher on the Asian markets this morning. Gold reached a high of $1,197.60 per ounce this morning, then light selling came in before Gold reached the important $1,200 resistance level. At 11am PDT today, Gold is trading at $1,194 per ounce, up $10 on better than average trading volume.

SILVER

This morning Silver reached $16.14 on Asian markets and immediately found lots of bargain hunting buyers who drove it up to $16.50. When European and U.S. commodity markets opened, Silver found support and the market reached $16.67 per ounce. At 11am PDT today, Silver is up $0.25 per ounce, trading at $16.55 on good volume.