Could Other States Make A Commitment To Gold?

GOLD

A strong U.S. manufacturing report and a increase in the U.S. Dollar Index caused Gold to see a selloff in early trading. Gold reached a low of $1,933 per ounce before seeing bargain buying. As for bullish Gold news, the state of Ohio allocated 5% of its $16 billion pension fund for Gold. This could be the first of many states making a similar commitment to Gold. At 11am PT today, Gold is trading at $1,938 per ounce, down $36 per ounce on heavy volume.

SILVER

As Gold dropped this morning, Silver got hit harder, reaching a low of $27.07 before rallying back. At 11am PT today, Silver is down $1.10 per ounce, trading at $27.30 on heavy volume.