Daily Market Report 5/29/13

GOLD

Tug of war on the world’s Gold trading exchanges. The price trading range for Gold seems to be tightening. Recently we have had excellent support at the $1,350 per ounce level and resistance at $1,400 per ounce, now it appears that there is excellent support at $1,380 per ounce, with short term profit taking at the $1,395 level. This consolidation is very healthy for Gold owners.

At 11am PDT, Gold is up $8 per ounce, trading at $1,391 per ounce on average volume.

SILVER

Today, Silver stayed in a tight $.40 trading range, from $22.16 on the low to $22.56 on the high.

At 11am PDT, Silver is trading at $22.48, up $0.17 per ounce on normal volume.

The U.S. Mint said today that demand for Silver Eagles continues to be strong with the May 28th report showing demand at 3,458,500 1oz Silver eagles, up 20% over May 2012.