Daily Market Report 3/8/13

GOLD

Gold is surprisingly higher with trading in a narrow price range based on two bearish events. 1) A rally in the U.S. Dollar today, now trading under $1.29 versus the Euro.2) The U.S. government said today that the economy added 236,000 jobs in February – much stronger than the prior month. The unemployment rate fell to 7.7% from 7.9%. A total of 12 million people continue to be unemployed. 

At 11am PST Today, Gold is up $1.60, trading at $1,577.60 on average light Friday volume.

SILVER

Silver is showing a little more strength due to continued heavy physical demand. 

At 11am PDT today, Silver is up $0.18 per ounce, trading at $28.98 per ounce on average volume.