Daily Market Report 05/22/12

GOLD
While the euro-zone nations try to figure out how they are going to handle the Greece and Spain problem the Gold market is trading in a very narrow price range. The low/high range on Gold for the past 24 hours has been $1,575 to $1,591 per ounce. A move back above the important $1,600 resistance level by month end would signal the continuation of the bullish trend. At 11am PDT, Gold is trading at $1,580.90 per ounce, down $9.70 per ounce on active volume.

SILVER
Silver continues to build a base in the $28 to $29 per ounce price range.  After last week’s volatility, a little stability for the Silver price would be good. At 11am PDT, Silver is down $.10 trading at $28.30 per ounce on normal volume.