Daily Market Report 02/24/14

GOLD

Gold rallied this morning as the Federal Reserve Bank of Chicago’s announced that the national index for January was at minus 0.39, compared with analysts’ median estimate of minus 0.2. A below zero reading indicates below-trend-growth in the national economy.

At 11am PDT today, Gold is up $14 per ounce, trading at $1,337 per ounce on excellent volume.

SILVER

Silver broke above the $22 per ounce resistance level this morning and is currently holding. Silver did reach $22.21 per ounce this morning before seeing some short term profit taking.

At 11am PDT today, Silver is trading at $22.04 per ounce, up $0.18 per ounce on above average volume.