GOLD REACHES A NEW ALL-TIME HIGH OF $2,987

GOLD

The just-released U.S. producer price index (PPI) report for February came out unchanged, month-on-month, and was seen coming in up 0.3%. The unchanged reading compares to a rise of 0.4% in January. Gold started moving higher after this news. When it broke above $2,950, demand increased, and it jumped to over $30 per ounce. The Gold price reached a new all-time high of $2,987 per ounce.
At 11am PT today, Gold is trading at $2,980 per ounce, up $45 on excellent volume.

SILVER

Silver moved higher with Gold this morning on the PPI report and kept on rallying higher. Silver reached a high of $34.07 per ounce before seeing some light selling (the first time over $34 this year).
At 11am PT today, Silver is trading at $33.67 per ounce, up $0.47 on high volume.