Daily Market Report 5/15/15

GOLD

Yesterday’s weak economic data (with the U.S. Producer Price Index falling by .4% in April) helped precious metal prices. This news, combined with a weaker U.S. Dollar, helped Gold break above the 200-day moving average of $1,218, as it recorded an intra-day high of $1,228 per ounce.

Today Gold is showing excellent global support above the $1,220 per ounce breakout. At 11am PDT today, Gold is trading at $1,224.50 per ounce, up $0.50 per ounce on good trading volume.

SILVER

Silver had an impressive day yesterday, breaking above $17.50 for the first time in three months. At 11am PDT today, Silver is trading at $17.52 per ounce, up $0.06 on good volume.