Daily Market Report 05/14/14

GOLD

Gold rallied to $1,309 this morning on news that seven Ukrainian soldiers were killed in an ambush by Pro-Russian separatists in eastern Ukraine. This news, plus release of the April Producer Price Indicator, showed weakness in the U.S. economy. Both news items are bullish for the Gold price. At 11am PDT today, Gold is trading at $1,305 per ounce, up $12.00 on excellent volume.

SILVER

Silver rallied with Gold this morning reaching the key $20 per ounce resistance level before seeing short term profit taking and fresh short selling. At 11am PDT today, Silver is up $0.23 per ounce, trading at $19.75 per ounce on average volume.