spot prices

It has been a very eventful few weeks for the precious metals markets. We have seen spot gold and silver rally to multi month highs of $1434 and $25.10 respectively. The main drivers for these rallies was the ongoing strife in Syria, which has since subsided . The market has also been fixated one "tapering", will he or won't he. Since Federal Reserve chairman Ben Bernanke’s initial comments on tapering back in June, the market has been heavily focused on one question: when will the unwinding of QE3 start?

Volatility remains high as spot gold saw wild swings from positive to negative. The metal rallied to $1671, before turning; as US ISM data was positive; lower to $1660.

A wild and volatile day in the precious metals complex where gold saw wild swings trading to a low of $1634 bouncing back to trade to $1657. With no rhyme or reason for this swing traders are left scratching their heads.

Spot gold rallied on the heels of disappointing jobs data released this morning. The yellow metal finally broke the $1671 level to touch $1678.

Spot gold pushed back toward $1650 in Asian trading after weaker-than-expected US job growth in March revived talk of a third round of quantitative easing, while a weaker dollar improved the attractiveness of dollar-denominated commodities for investors using other currencies.

Spot gold drifted sideways in North American trade as participants awaited the latest release of the Federal Open Market Committee’s latest minutes.

Spot gold traded in a tight range touching a high of $1681 and low of $1667 as Chinese investors remained on a 3 day holiday as well as the Indian Jewelers strike put a damper on physical metal sales.  The Euro dollar traded against the U.S at 1.3333 slightly below yesterday’s high of 1.3368 as the Euro zone issues have been somewhat put on the back burner, for now.

On the first trading day for Q2, markets trended higher. Precious metals gained on positive U.S data, but a choppy week lies ahead as unemployment data is due on Thursday and Friday.

TORONTO, ON, March 29, 2012 / Cache Metals, a leading Canadian based gold and silver bullion wholesaler, announced the launch of phase one of their online property, http://www.cachemetals.com.

The new website includes real-time precious metals market news, gold, silver, platinum and palladium live spot charts, historical price charts, as well as bullion investment resources and daily market reports. Clients and investors can continue buy and sell gold, silver, platinum and palladium bullion bars and coins from Cache Metals.