Daily Market Report 2/20/13

GOLD

Gold fell this morning, reaching $1,566 per ounce at one point, its lowest price in seven months in a move described largely as a reaction to a strong U.S. dollar and technical-chart-related selling. There are additional concerns of an announcement later today by the Federal Reserve of a change in their monetary policy. At 11am PDT, Gold is trading at $1,570 per ounce, down $34.25 for the day on very active trading.

SILVER

Silver mirrored Gold’s downside move today, reaching $28.33 at one point. At 11am PDT, Silver is down $0.95, trading at $28.50 per ounce on very heavy volume of trading.