Daily Market Report 03/12/12

GOLD

We are seeing gold trading market in a narrow $14 price range today.  I believe, after the past two weeks of high volatility, a base is building around $1,700 per ounce. This would be healthy for Gold’s long term price appreciation. Today, at 11am PST, Gold is trading at $1,701.50, down $8.90 per ounce on normal volume.

SILVER

Silver is showing more volatility than Gold. We had a 2.3% price range in the past 24 hours, from a low of $33.28 to a high of $34.06.  With gold building a base around $1,700 per ounce, silver needs to stay around $34 per ounce to build its base.  At those support levels the Silver/Gold ratio would be 50 to 1.  Right now, at 11am PST, Silver is trading down $0.64 per ounce, at $33.61 on average volume. 

Rare Coin Update

Within the next five weeks I will be attending two Major Rare Coin conventions. At these Coin Shows there will be tens of thousands of dealers, collectors, and investors, and major numismatic auctions. The first Show will be held in Baltimore between March 22^nd to March 24^th, and the second Show is the Central States Numismatic show between April 18^th to 21^st. Since I will be examining hundreds of investment quality rare coins, I am asking my clients to update their numismatic want list.  Just email me your current want list by March 16^th.  Please provide grading service desired, grade or price range, and any other criteria to [email protected].