Daily Market Report 06/06/14

GOLD

This morning, the U.S. Department of Labor stated that May unemployment held steady at 6.3% by adding 217,000 jobs. On this news of improvement in the U.S. economy, Gold declined, reaching a low of $1,246 per ounce.

I have just posted on our website an informative article from Bengt Saelensminde of Money Week called “There’s something fishy going on in the gold market”. Click on http://www.mintstategold.com/investor-education/fishygold/ to read it.

At 11am PDT Today, Gold is trading at $1,252 per ounce, down $1 on normal weekend low volume.

SILVER

Silver briefly traded below the $19 support level when Gold declined earlier this morning, reaching a low of $18.88 per ounce. However, buyers came in and the market moved back above the $19 level. At 11am PDT today, Silver is down $0.07 per ounce, trading at $19.03 per ounce on light volume.