Daily Market Report 05/22/14

GOLD

The price of Gold increased today after yesterday’s U.S. Federal Reserve minutes indicated that there is no intention to raise interest rates in the near future. Although Gold did rally briefly above the key $1,300 per ounce resistance level, it quickly fell back below, and continues to stay in its narrow price range. At 11am PDT today, Gold is trading at $1,294, up $6 per ounce on better than average volume.

SILVER

Silver rallied with Gold this morning, but was unable to break above the $20 per ounce level when Gold was trading above $1,300 per ounce. At 11am PDT today, Silver is up $0.15 per ounce, trading at $19.50 on average volume.