Daily Market Report 5/29/15

GOLD

WOW, only a $7 high/low trading range today! Gold traded between $1,186 and $1,193 all day on normal Friday light volume. Gold appears to be consolidating in this trading range. The U.S. Dollar hit a 13-year high versus the Japanese Yen, and continues to remain strong versus the Euro. At 11am PDT today, Gold is trading at $1,190 per ounce, up $2 on normal trading volume.

SILVER

Silver is also consolidating in the $16.60 to $16.85 per ounce price range. I believe we will see Silver move back above $17 per ounce next week. At 11am PDT today, Silver is trading at $16.74 per ounce, up $0.06 on average volume.