Daily Market Report 2/28/13

GOLD

Gold traded above the $1,600 per ounce level briefly last night in Asia but couldn’t hold. This morning I saw some technical selling based on not holding $1,600, which drove the price down to $1,574 per ounce. At 11am PDT today, Gold is trading at $1,578, down $19 per ounce on average volume.

SILVER

The Silver price rallied in Asia to $29.21 per ounce before following Gold lower. At 11am PDT today, Silver is trading at the lows of the day $28.40 per ounce, down $0.55 per ounce on normal volume.