Daily Market Report 5/22/15

GOLD

Today, Gold tested the important $1,200 per ounce support level for the third time this week, reaching a low of $1,201.40. Federal Reserve chairman Janet Yellen spoke this afternoon, which had little to no effect on the markets. Basically, she said that everything was status quo, and interest rates may not increase until 2016. At 11am PDT today, Gold is trading at $1,204 per ounce, unchanged from yesterday on light volume.

SILVER

Silver tested the $17 per ounce support level this morning for the third time in a row and held. At 11am PDT today, Silver is down $0.06 per ounce, trading at $17.06 on light volume.