Daily Market Report 3/9/15

GOLD

After Friday’s $33 decline, Gold rallied this morning in Asia, reaching a high of $1,175.80 per ounce before seeing any resistance. Gold has now established a new trading range between $1,150 and $1,175, as physical demand in Asian markets increases dramatically. At 11am PST today, Gold is up $2 per ounce, trading at $1,168 per ounce on normal volume.

SILVER

Silver briefly broke above the $16 per ounce resistance level this morning, hitting $16.02 per ounce before professional selling appeared. It is important that Silver rally and stay above $16 to help the bulls. At 11am PST today, Silver is trading at $15.80 per ounce, down $0.06 per ounce on average volume.