Daily Market Report 02/28/14

GOLD

Today was the last trading day for February and Gold continues to move higher, up $81.20 for the month of February and showing an increase of $119.10 since the beginning of 2014.

The SPDR Gold Trust (Symbol GLD), the biggest Gold ETF, is set for its first monthly inflow since December 2012, according to a Reuters report on Thursday. The ETF has added 10.5 tons to its reserves so far in February, reaching 803.70 metric tonnes. GLD is set for its first monthly increase in its reserves in more than a year.

At 11am PDT today, Gold is down $3 per ounce, trading at $1,321 per ounce on light volume.

SILVER

Silver traded low with Gold today, showing firm support at the $21 per ounce resistance level. At 11am PDT today, Silver is trading at $21.10 per ounce, down $0.12 per ounce on light weekend trading.