Daily Market Report 6/11/15

GOLD

After a three day rally, the Gold price took a breather and sold off on light selling; the selling was caused by strong U.S. economic data. U.S. retail sales increased 1.2% in May, topping the 1.1% growth expected by economists. Plus, U.S. import prices rose in May, after 10 months of declines, while the weekly jobless claims rose slightly more than expected but remained in territory consistent with a strengthening labor market. At 11am PDT today, Gold is trading at $1,181, down $6 on average volume.

SILVER

Silver continues to go above and below the key $16 per ounce support/resistance level. In early trading, Silver reached a low of $15.81 and bargain buyers appeared, driving the price back above $16. At 11am PDT today, Silver is unchanged, trading at $16.02 per ounce on normal volume.