Daily Market Report 6/2/15

GOLD

Gold increased in early trading yesterday, reaching a high of $1,204.50 after an announcement that U.S. consumer spending stalled in April. After the rally, Gold fell back below $1,200 after the Dollar strengthened and reports that U.S. manufacturing activity picked up in May. This morning Gold opened strong in Asia and quickly moved up to $1,196. Selling then appeared after the U.S. Dollar reached a 12-year peak versus the Japanese Yen. At 11am PDT today, Gold is trading at $1,194 per ounce, up $5 on normal volume.

SILVER

Silver continues to find lots of support at the $16.60 per ounce price level. At 11am PDT today, Silver is up $0.08 per ounce, trading at $16.82 per ounce on average volume.