Daily Market Report 3/19/15

GOLD

Yesterday, the Federal Reserve and its Chairman Janet Yellen updated the nation with their economic outlook. The Federal Reserve felt that it wasn’t the right time to raise interest rates and decided to make the future direction more dependent on economic indicators. They revised targets on unemployment, GDP, and inflation rates to be more conservative. These changes caused many economists to believe that rates will not be raised until after June 2015. This news was bearish for the U.S. Dollar, and very bullish for precious metals; Gold quickly rallied $20 per ounce. At 11am PDT today, Gold is up $20, trading at $1,169 per ounce on excellent volume.

SILVER

Silver moved above $16 yesterday with the Gold rally and wants to stay there. At 11am PDT today, Silver is trading at $16.10 per ounce, up $0.52 on good volume.