Daily Market Report 05/03/12

GOLD
Gold was under pressure on Thursday after disappointing data from both sides of the Atlantic fueled concerns about global growth, while investors awaited a rate decision by the European Central Bank tomorrow for more input on trading direction. At 11am PDT, Gold is down $19.20 per ounce, trading at $1,634.40 per ounce on an average volume.       
        
April Gallup poll on Investments
According to a recent Gallup poll, Gold leads four other types of investments when Americans were asked to pick the best long-term investment. The poll found that 28 percent of Americans view Gold as the best investment vehicle for the long-term, compared to 20 percent selecting real estate. Paper assets, such as stocks and savings accounts, were tied for third place with 19 percent, as bonds finished last with only 8 percent. The new findings were part of Gallup’s April update of its annual Economy and Personal Finance poll.

SILVER
Silver is taking direction from Gold today. The fundamentals are still in place and as long as Silver stays above $30 per ounce, the long term trend line is in place.  At 11am PDT, Silver is down $0.36, trading at $30.19 per ounce on heavier than average  volume.