Daily Market Report 3/28/13

GOLD

It appears that Gold is consolidating in a $1,590 to $1,610 per ounce trading range, awaiting some clear results from the Eurozone on polices to deal with the current financial crisis in Cyprus. We continue to see sizable physical demand for Gold, and selling of ETF paper Gold. At 11am PDT today Gold is trading at $1,597, down $9 per ounce on excellent volume.

Many State legislators want to make Gold and Silver legal tender

Similar to the legislation passed in the State of Utah in 2011, lawmakers in the state of Arizona are moving forward on legislation which makes Gold and Silver Legal Tender. There are now eight states (mostly republican) with legislation in one form or another making Gold and Silver coins legal tender. For more details on the Arizona legislation, please read the following article: http://www.mintstategold.com/investor-education/az_bill_gold_legal_tender/

SILVER

Silver sold off today with Gold, reaching a low (within the current trading range) of $28.20 per ounce. At 11am PDT, Silver is down $0.37 per ounce, trading at $28.40 per ounce on normal volume.