Daily Market Report 05/15/14

GOLD

Two major economic indicators were released today. The U.S. Labor Department reported that last week’s Unemployment Claims hit a seven year low. The Consumer Price Index increased 0.3% last month, as the cost of gasoline surged. These economic indicators are considered negative for Gold and it moved lower today. At 11am PDT today, Gold was trading at $1,296 per ounce, down $9 per ounce on average volume.

SILVER

Silver sold off with Gold today and hit a low of $19.41 per ounce before finding demand. At 11am PDT today, Silver is down $0.28, trading at $19.47 per ounce on light volume.