Daily Market Report 03/26/12

GOLD
Today’s weaker dollar combined with higher Oil price caused gold to increase from the start of trading. Demand continues to be strong from Asia and buyers are aggressive with gold under $1,700 per ounce. As of 11am PDT, Gold is up $20.40 per ounce, trading at $1,685.30 on excellent volume.

Investors took Chairman Bernanke statements this morning as an indication the Fed will go on with its ultra-loose monetary policy. Gold tends to gain on talk of continued ultra-low interest rates, as the lower interest rates diminish the opportunity cost of owning gold.

SILVER
Staying above the critical $32 support level, Silver touched $33 per ounce this morning and quickly sold off. Like Gold, silver is building an important base between $31 and $33 per ounce and getting ready to break out. At 11am PDT, Silver is trading at $32.85 per ounce, up $0.52 on excellent volume of trading.
 
RARE COIN UPDATE
For today’s rare coin market update visit www.mintstategold.com/investor-education/cat/markets/