Daily Market Report 01/11/12

GOLD

Today’s report showing record gold imports to China late last year has reassured investors that physical off-take is underpinning the gold market. Mainland China bought 102,779 kilograms from Hong Kong in November, up from 86,299 kilograms in October (19% increase), according to the Census and Statistics Department of the Hong Kong government. China doesn’t publish gold trade data. China, the world’s number two buyer of the precious metal, is preparing for the Lunar New Year this month, a key gold-buying period. At 11am PDT, Gold is up $1,639.60, up $6.10 per ounce on average volume

French Bank, Societe Generale, said today, in its research note, that the prospects of aggressive monetary easing from the world’s key central banks, including the European Central Bank, will keep sentiment for gold and silver bullish.

SILVER

Silver continues to toy with the $30 per ounce resistance level.  Silver traded in a thin range today with a low/high range of $29.51/$30.33 per ounce. At 11am PDT, Silver is up $0.02, trading at $29.94 per ounce.

For Clients and Friends in Southern California, please join us for a special event:

Financial Survival Seminar 2012

Invest for Protection and Profit

Under Today’s Difficult Conditions

Wednesday, January 18, 2012 7:00 PM - 9:30 PM

Skirball Cultural Center

2701 North Sepulveda Blvd.  Los Angeles, CA  90049

Email [email protected] or call 888-454-0444 and ask Laurie for details.