Daily Market Report 03/05/14

GOLD

Gold moved up today after weak U.S. data cast doubts over the pace of the economic recovery. The Institute for Supply Management said the U.S. services sector index fell to 51.6 last month, the worst read for the index since February 2010, as bad weather affected business activity. Separately, U.S. private employers added 139,000 jobs in February, below economists’ expectations for a gain of 160,000 jobs.

The tensions in Ukraine have lessened lower physical gold demand, but the Gold market is firm at current levels.

At 11am PDT today, Gold is trading at $1,340 per ounce, up $3 on average volume.

SILVER

Today, Silver is trading in a very narrow $0.23 high/low price from $21.35 to $21.12 per ounce on light demand. At 11am PDT today, silver is up $0.06, trading at $21.25 per ounce on average volume.