Daily Market Report 3/4/13

GOLD

Continued strength in the U.S. Dollar (breaking below 1.29 to the Euro) is causing the weakness in the Gold market. Trading today was very lackluster in a tight range, awaiting fresh news from European leaders. CME Gold trading volume is at the low end of the recent range. At 11am PDT today Gold is trading at $1,572, down $2 on light volume.

SILVER

Physical demand for Silver has been increasing in many of the Asian, European and U.S. bullion stores. If the trend continues 2013 is likely to show a all-time record high. At 11am PDT today, Silver is up $0.02 per ounce, trading at $28.54 per ounce.