Daily Market Report 03/26/14

GOLD

Gold is at a crucial point right now, trying to stabilize above the key $1,300 per ounce support level after the recent decline from the $1,380 area. With Gold trading above $1,300, volume has picked up since the $80 decline in price, as investors and traders re-establish new long positions. At 11am PDT today, Gold is trading at $1,304 per ounce, down $7 per ounce on better than average volume.

SILVER

Silver continues to trade above and below the key $20.00 per ounce level, with the market favoring below. If Silver can’t move back above $20 by the end of the week we are probably heading to $19 shortly, as many of the chartists will be shorting (selling) the market. At 11am PDT today, Silver is down $0.20, trading at $19.81 per ounce on heavier the average volume.