Daily Market Report 01/25/12

GOLD

There’s surprising news from the U.S. Federal Reserve. Interest rates are going to be kept at zero to ¼ percent until late 2014 and in turn, caused gold to rally above $1,700 per ounce.  Low interest rates and the high possibility of addition Federal Reserve and European Central Bank monetary stimulus (QE) are very bullish for the price of gold and silver. At 11am PDT, Gold is trading at $1,701.20, up $32.60 per ounce on heavy volume of trading. 

SILVER

Silver was a bigger beneficiary of the Federal Reserve announcement. Rallying $1.00 on the news and at 11am PDT, silver is trading at $33.09, up $1.02 per ounce from yesterday’s close on heavy volume.

The demand for American Silver Eagles and Canadian Maple Leaf coins has increased tremendously over the past several years. 2011 will be the first year in which official coin sales will surpass domestic silver production in both countries. Both the U.S. and Canada continue to see declining domestic silver production over the past decade. Read the full story at https://www.mintstategold.com/investor-education/cat/news/