Daily Market Report 03/31/14

GOLD

Gold held in the $1,292 to $1,297 area during early morning Asian trading. When U.S. commodity markets opened, Gold sold off to $1,282 on good volume. Today is the last day of the quarter and Gold has a history of selling off during this timeframe (read today’s Weekly Market Report for more details). At 11am today, Gold is down $8 per ounce, trading at $1,296 per ounce.

SILVER

Considering today’s Gold sell off, Silver has held up surprisingly well. Silver has been up all day, even breaking above the $20 per ounce resistance level for a short period of time. At 11am PDT today, Silver is trading at $19.78 per ounce, up $0.04 on excellent volume.