Daily Market Update 3/4/11

The Stars have realigned and today’s news is all bullish for precious metals.

GOLD
Gold closed at $1,428.00, up $15.50 based on the following factors:

• Hostiles in the Middle East have intensified, causing World Oil and Domestic Gasoline prices to increase.
• Labor Department reported lower than excepted employment numbers for February.
• Commerce Department reported new orders for manufactures were up 3.1% in January.
• The NY Dow Jones Industrial Average was down 88 points for the day
• Today the value of the U.S. Dollar fell to a new four month low against the Euro

Great article about gold confiscation on stuppler.com see www.mintstategold.com/investor-education/cat/news/post/confiscate_gold/

SILVER
Going to the Moon --- Silver continues to set 31 year highs, today up another $1.20, closing at $35.40 per ounce.

Again its Global concerns about high food and commodity inflation, plus increased Silver demand resulting in substantial storages of the physical metal.

Today’s other Important News

The Chinese reported adding 200 Metric Tonnes of Gold in the first 2 months of 2011, on their way to increasing gold reserves 10 folded. Gold demand in China is 70% year–on-year and growing. ( read the entire article at: www.mintstategold.com/investor-education/china_gold_imports/..... )

Tune in Tomorrow night (Saturday) to my weekly radio show on Talk Radio 790 KABC in the Southern California area, or listen to www.kabc.com at 9pm PST to hear an extended program on Gold, Silver and precious metals. The show is live (not recorded), so you can call in with your comments or questions.