Daily Market Report 3/5/15

GOLD

The US Dollar is trading at an 11-year high versus the Euro. Since we look at Gold in US Dollar terms, a very strong Dollar is negative for the price of Gold. Gold did get some price support after China lowered its GDP targets for 2015. Gold continues to stay in the $1,190 to $1,223 trading range. At 11am PST today, Gold is trading at $1,199 per ounce, down $6 on average volume.

SILVER

Silver trading today was very lackluster with very low volume and a downward basis. Physical demand for Silver investment products continues to be strong with the U.S. Mint reporting they have sold 9,139,000 2015 1oz .999 Silver Eagles to date. At 11am PST today, Silver is trading at $16.16 per ounce, down $0.04 on very light trading volume.