Daily Market Report 04/01/14

GOLD

Gold is trading in a very tight $10 range, from $1,278 to $1,288 on average volume. I need to see Gold rally back above the $1,300 resistance level by week end to regain its bullish sentiment. At 11am PDT today, Gold is trading at $1,281 per ounce, down $5 from yesterday.

SILVER

Silver continues to trade in the $19.70 area, which is very healthy considering the current decline in Gold. However, the $20 per ounce resistance level is key to the short direction of the price. At 11am PDT today, Silver is down $0.04 per ounce, trading at $19.74 on good volume.