Daily Market Report 6/6/13

GOLD

Gold opened higher this morning, reaching $1,423 per ounce, as the U.S. Dollar weakened further against the Euro following the European Central Bank (ECB) decision not to change its lending rate and to cut its 2013 growth forecast.

At 11am PDT today, Gold is up $13, trading at $1,414.00 per ounce on above average volume.

SILVER

Silver rallied with Gold, reaching $22.84 per ounce before seeing some short term profit taking. Silver continues to be locked in a very narrow price range between $22 and $23 per ounce, as many professionals feel Silver is consolidating while building a firm base.

At 11am PDT today, Silver is trading at $22.70 per ounce, up $0.17 per ounce on average volume.