Daily Market Report 6/4/15

GOLD

Gold broke below the $1,180 support level in early Asian trading and technical traders shorted the Gold market, driving it down to $1,172 per ounce. At that point bargain buyers appeared and rallied the price back up to $1,178. At 11am PDT today, Gold is trading at $1,176, down $10 per ounce on heavier than average volume.

The International Monetary Fund said today that the Federal Reserve should wait until next year before raising its benchmark interest rate, citing the stubborn persistence of sluggish inflation.

SILVER

Silver fell with Gold in early trading, reaching a low of $16.11 per ounce. At 11am PDT today, Silver is down $0.37 per ounce, trading at $16.20 per ounce on excellent volume.