Daily Market Report 6/15/15

GOLD

This morning’s combination of little progress with the Greek debt crisis, and a report of U.S. industrial production falling by 0.2% in May, has resulted in a nice rally in the Gold price. The Gold price continues to stay within the $1,180 to $1,220 trading range. Today’s U.S. industrial production report included a revision for April showing a 0.5% drop. These are very sluggish numbers which are likely to delay any increase in interest rates by the Federal Reserve. At 11am PDT today, Gold is trading at $1,186, up $6 per ounce on average volume.

SILVER

Silver rallied back above the important $16 per ounce support level this morning, reaching a high of $16.30 per ounce. Trading volume is picking up as bargain buyers are aggressively purchasing physical Silver investment products. At 11am PDT today, Silver is up $0.22 per ounce, trading at $16.12 on normal volume.