Daily Market Report 06/05/14

GOLD

During this morning’s European Central Bank meeting, the bankers made the decision to cut the rate on bank deposits to a negative .01% to incentivize banks to lend to commercial businesses. This resulted in pushing up the value of the Euro versus the U.S. Dollar, while driving the price of Gold over $1,250 per ounce. At 11am PDT today, Gold is trading at $1,253 per ounce up $8 on excellent volume.

SILVER

Silver followed Gold higher, moving above the $19 per ounce resistance level. At 11am PDT today, Silver is trading at $19.10 per ounce, up $0.27 on good volume.