Daily Market Report 03/21/12

GOLD
At 11am PDT today gold is trading at $1652.09 up $4.49 per ounce on an average amount of volume.   The following news release confirms all my comments about the movement from paper gold into physical gold.

The London Financial Times reported yesterday…
Deutsche Bank plans to open a new precious metals vault in London next year, seeking to cash in on booming investor demand for physical gold and silver. In London, center of the global bullion market, vault space is running low even as the growth in exchange-traded funds backed by physical precious metals has led to a steep rise in demand for vaults. A growing number of banks and logistics companies are rushing to break into the precious metal storage market.

SILVER
Silver has find real support at $32 per ounce and at 11am PDT is trading up $0.23 per ounce at $32.27 per ounce on normal volume of trading.

Silver Institute Announces Results of Annual Jeweler Retail Survey
77% of jewelry retailers surveyed said their silver jewelry sales in 2011 increased, 27% said sales increased over 25%
Read full survey at: http://www.silverinstitute.org/site/2012/03/20/silver-institute-announces-results-of-annual-jeweler-retail-survey/

RARE COIN REPORT           
I’m on my way to Baltimore for the Whitman Coin Expo which starts on Thursday, I provide a report on the show in the next Weekly Market Report being emailed on Monday.