Daily Market Report 03/11/14

GOLD

The Gold price traded very actively between $1,338 and $1,350 per ounce today, as weak Chinese exports data for February caused investors to buy Gold for safe-haven rather than equities.

In a sign that confidence in the paper Gold market may be returning amid global uncertainties, SPDR Gold Trust, the world’s biggest bullion-backed exchange-traded fund, saw its largest inflow in a month on Monday. Its holdings rose 7.50 tonnes to 812.70 tonnes on Monday - the biggest inflow since Feb. 13.

At 11am PDT today, Gold was trading at $1,347 per ounce, up $5 on excellent volume.

SILVER

Silver continues its recent losing fight to stay above $21.00 per ounce. It did reach $21.34 at one point this morning before selling appeared, driving it back down to $20.70 per ounce. At 11am PDT today, Silver is down $0.08 per ounce, trading at $20.82 per ounce.