Daily Market Update 2/10/11

Gold closed at $1,360.50, virtually unchanged; Silver at $30.13, down 3 cents on light volume.
As the World and its commodity markets wait to hear news out of Egypt, precious metals have traded in a narrow range.

Today’s news that affects the precious metal prices:

• European Central Bank is taking aggressive actions to support the Portuguese debt crisis.
• The U.S. Dollar is trading up 1% against the Euro.
• The Federal Reserve Bank plans to purchase $97 billion in Treasury debt in the next month, continuing its policy of buying bonds to keep interest rates low and aid the economy’s recovery.