Daily Market Report 3/29/16

GOLD

Federal Reserve Chair, Janet Yellen, said this morning that the Fed still envisions a gradual pace of interest rate increases in light of global pressures that could weigh on the U.S. economy. She said that given the risks, the Fed will "proceed cautiously" in raising rates. This was bullish news for the Gold and Silver markets. Gold quickly rallied $20 per ounce, reaching $1,235 before seeing some light selling. At 11am PDT today, Gold is up $17 per ounce, trading at $1,237 on excellent volume.

SILVER

Silver reached a low of $15.05 this morning before rallying with Gold. The $15 per ounce level continues to show major support and today’s test brought out the bargain buyers. At 11am PDT today, Silver is trading at $15.28, up $0.07 per ounce on excellent volume.