Daily Market Report 3/7/16

GOLD

For most of today’s Gold trading in the U.S. market, Gold has stayed in the $1,260 to $1,268 per ounce range. A price consolidation at this point in the 2016 Gold rally is very healthy for the short and long term. At 11am PST today, Gold is up $3 per ounce, trading at $1,265 per ounce on normal volume.

SILVER

Silver is also showing excellent consolidation today, trading in the $15.44 to $15.83 range. Silver’s trading volume since it broke back above the important $15 resistance level last Wednesday has been excellent. I expect to see Silver test the next resistance level of $16 later this month. At 11am PST today, Silver is trading at $15.62, that up $0.10 on good volume.