Daily Market Report 03/07/14

GOLD

The Gold price declined today after the Department of Labor announced that the U.S. economy added 175,000 jobs last month, an increase over January. Economists had been expecting a gain of 150,000 jobs and for unemployment to remain flat.

Gold traded today in the $1,328 to $1,353 per ounce price range on light weekend type volume. At 11am PDT today, Gold was trading at $1,338 per ounce, down $13 per ounce.

SILVER

Silver was disappointing today, breaking below the $21 per ounce support level and reaching a low of $20.73 before seeing short covering and fresh buying. At 11am PDT today, Silver is down $0.54 per ounce, trading at $20.88 per ounce on better than average volume.