Bank of Japan Announces Major Financial Stimulus

GOLD

The Bank of Japan (BOJ) announced major financial stimulus measures. The BOJ promised to buy government bonds “without upper limit”, this is very aggressive. The European Central Bank is scheduled to announce their stimulus measures this week. The BOJ announcement helped equity markets, which put pressure on the Gold price, dropping $12 per ounce. At 11am PT Today, Gold is trading at $1,725 per ounce, down $10 on average volume.

SILVER

Silver reaching a high of $15.55 this morning in Asian markets. With some of the major mints coming on line, premiums of popular bullion items are starting to drop. At 11am PT today, Silver is up $0.07 per ounce, trading at $15.37 on normal volume.