Daily Market Report 03/13/14

GOLD

Gold has traded today in an $11 High/Low range, from $1,375 to $1,364 per ounce. This is very bullish considering that we had a $30 increase since the beginning of the week. Gold continues to move higher at a conservative pace, very much like 2011, when it reached its all-time high of $1,920 per ounce.

At 11am PDT today, Gold is trading at $1,372 per ounce, up $5 on active volume.

SILVER

I am happy to report that Silver has stayed above the key $21 per ounce resistance/support level all day. As Gold continues to move higher, I need to see Silver consolidate and then move forward, breaking above the $22 per ounce level. Silver is currently trading at a 64.80 to 1 ratio to gold.

At 11am PDT today, silver is down $0.10 per ounce, trading at $21.17 on average volume.