Daily Market Report 5/14/15

GOLD

This morning the World Gold Council (WGC) released the official Gold supply and demand numbers for the 1st quarter of 2015. The report showed that investment demand increased to 278.8 metric tonnes from 268 metric tonnes in the 1st quarter of 2014. The WGC report also showed that Gold Exchange Traded Funds (ETFs) increased their holdings by 25.7 tonnes from a decrease of 13.5 tonnes of Gold in the 1st quarter of 2014.

However, the most impressive fact in the WGC report was that the World’s Central Banks added 119.4 metric tonnes of Gold for the 1st quarter of 2015, while adding 1,332.9 since the beginning of 2013. Additionally, total demand has reached 9,728 metric tonnes of Gold since January 2013.

The complete World Gold Council report is available at
http://www.mintstategold.com/investor-education/wgc_2015_q1_gold_demand/.

Today, Gold has broken out of the $1,180 to $1,220 trading range, reaching a high of $1,227 per ounce. At 11am PDT today, Gold is trading at $1,223.63, up $8.72.

SILVER

Silver has firmly moved above the $17.00 per ounce level, reaching a high of $17.61 per ounce this morning. At 11am PDT today, Silver is up $0.29, trading at $17.46.