Daily Market Report 05/23/14

GOLD

The Gold price increased late yesterday partly due to the Indian government relaxing rules on the importation of Gold by consumers. This is likely to result in more Gold purchasing from Indian consumers. India is already the world’s second-largest consumer of Gold. Today, Gold continues to trade in a narrow price range on normal weekend light volume. At 11am PDT today, Gold is trading at $1,292.44 per ounce, down $2.93 on light volume.

SILVER

Silver is trading in tight twenty five cent price range on light volume, awaiting news that will give it a direction. At 11am PDT today, Silver is down $0.09 per ounce, trading at $19.43 on light volume.