Daily Market Report 3/4/15

GOLD

Gold’s bull/bear war continues. For the past month Gold has shown great support above $1,190 per ounce, while seeing resistance/selling at the $1,223 per ounce level. Many professional commodity traders are profiting from this trading range. I give the upside breakout a 70% chance, barring any negative geo-political event. At 11am PST today, Gold is trading at $1,202, down $3 per ounce on average volume.

SILVER

Today, Silver reached a low of $16.06 before serious buyers appeared. At 11am PST today, today Silver is down $0.08, trading at $16.20 per ounce on normal volume.

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