Daily Market Report 3/18/15

GOLD

The Gold, Silver, U.S. Dollar, Equity, and Bond markets are all waiting for Chairman Janet Yellen’s press conference today. Within 30 minutes the Fed will report on the state of the economy, followed by a press conference with Chairman Yellen. Gold has been trading in a very narrow $10 high/low range of $1,155 to $1,145 per ounce, awaiting direction from the Fed statement. If any rate hike is pushed back to late fall or into next year, this indication would weaken the U.S. Dollar and hopefully result in a higher Gold price. At 11am PDT today, Gold is trading at $1,152 per ounce, up $3 on average volume.

SILVER

Silver is also trading in a narrow high/low price range. Silver continues to show excellent demand in the $15.50 per ounce area. At 11am PDT today, Silver is up $0.02, trading at $15.60 per ounce on normal volume.

PLATINUM

Lack of investor demand and weakness in Chinese imports have caused Platinum to hit 6-year lows. Platinum hit $1,085 per ounce this morning, the lowest price since May of 2009. The price is a $65 discount to the Gold price and an outstanding value. At 11am PDT today, Platinum is trading at $1,090 per ounce, down $4 on average volume.