Daily Market Report 2/24/17

GOLD

Gold has had a great week, hitting 3-Month highs in the face of a lot of negative news:

1. The Federal Reserve calling for 3 interest rate increases this year
2. U.S. Equity markets continuing to set new record highs
3. The U.S. Dollar moving higher versus the Euro
4. New record 2017 highs for  Gold being held in  ETF (paper Gold) depositories

Gold continues to move higher, setting a new 2017 high and moving to the next resistance level of $1,261 per ounce. At 11am PST today, Gold is trading at $1.257 per ounce, up $9 with excellent volume.

SILVER

As Gold moved higher this morning, Silver followed, reaching $18.44 at one point. At the current price, Silver is up 15% this year, and showing increasing demand. At 11am PST today, Silver is trading at $18.34 per ounce, up $0.19 on good volume.