Daily Market Report 02/15/12

GOLD

The uncertainty of the Greek Debt Crisis is still a detriment on the global financial markets. This Deal on, Deal off mindset is driving many professional traders crazy. Gold continues to behave as the only real safe haven investment. Gold is up today showing its true strength, surprisingly in the face of a stronger U.S. Dollar versus the Euro and Yen. At 11am PST, Gold is at $1,726.60, up $8.20 per ounce on active trading.

Federal Reserve Committee minutes of the Jan. 24-25^th meeting will be released today. This will give the financial markets a look at the Fed’s thinking about future Quantitative Easing.

SILVER

Silver broke above $34 per ounce early this morning, trading at $34.09 in Asia and we quickly saw some profit taking.  It’s now back in the $33 - $34 price trading range, and building a very healthy base for the next leg up.  At 11am PST, Silver is down $0.08, trading at $33.46 per ounce on an average volume of trading.