Daily Market Report 3/6/15

GOLD

It was announced today that the U.S. Labor force added 295,000 new jobs in February. This is much higher than expected and a strong sign that the labor market has improved and the economy is recovering. The unemployment rate fell to 5.5% from 5.7% -- the lowest since May 2008. This news was bullish for the U.S. Dollar, but negatively affected the stock markets and precious metal prices. The Dow dropped 260 points and Gold quickly moved down $36 to $1,163 per ounce. At 11am PST today, Gold is trading at $1,166 per ounce, down $33 on heavy trading volume.

SILVER

Silver fell with Gold this morning, hitting a low of $15.75, below the key $16 per ounce support level. At 11am PST today, Silver is down $0.30, trading at $15.86 per ounce on large volume.