Daily Market Report 3/16/17

GOLD

Yesterday, during Chairman Yellen’s press conference, it was made clear that the four rate hikes the market was concerned about weren’t for sure. After this news the U.S. Dollar weakened, treasury bonds dropped, and Gold & Silver rallied. Gold quickly moved over $1,215 per ounce and kept going in after-market trading and Asian markets. At 11am PST today, Gold is trading at $1,225, up $15 per ounce on excellent volume.

SILVER

When Gold started its move yesterday and last night, the Silver price increased at a faster pace. Silver quickly moved above the key $17 per ounce level yesterday and didn’t stop, reaching a high of $17.56 per ounce this morning as short-sellers ran to cover. At 11am PST today, Silver is up $0.16 per ounce, trading at $17.28 on good volume.