The Future Is Now

The U.S. dollar staged a broad rally this morning after a final data revision showed the U.S. economy grew more strongly than expected in the fourth quarter of last year. U.S. fourth quarter gross domestic product (GDP) grew 2.5 percent, based on the final reading, higher than median economists' forecasts of 2.2 percent. In other news, the number of U.S. workers filing new claims for jobless benefits dropped unexpectedly last week to the lowest level in more than two months. The data combination suggested the U.S. economy was more resilient than many initially thought, and supported market expectations that the Federal Reserve may keep interest rates on hold for some time.

Geez, really? I better start selling all my silver and gold...yeah, right. The fourth quarter ended THREE months ago! After "final data revision" the US fourth quarter GDP actually grew ONE FULL PERCENT less than original economist forcasts back in January. The fourth quarter ended THREE months ago! People, the data is THREE MONTHS OLD.

I'll give you three reasons right now to buy Gold and Silver:

• The price of oil is above $64 a barrel at 6 month highs
• New housing sales are at their lowest level in 16 years
• The US Dollar is weak, the Euro is up, and the Yen is down

OK, that was five. The point is these reasons are staring us in the face, not waving to us in the rearview mirror. Oh, and there's this small issue with the Iranians... I pity da fools that sold their Gold and Silver because of yesterday's old news.

TODAY is not only the last trading day of March, it is the end of the first quarter. I can only imagine the the Gold and Silver positive economic data we're going to be seeing in the weeks to come. Any profits being booked today won't be from selling the Precious Metals...it will be from buying them to cover short positions. Gold and Silver as of yesterdays close are both down for the month of March. For the first quarter through yesterdays close, Gold is up only 4.5% and Silver is up only 3%...let those profits ride.

Silver Resistance: 13.39 / 13.54 / 13.67

Silver Support: 13.25 / 13.16 / 13.03

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Gold Resistance: 662.10 / 668.50 / 670.30

Gold Support: 660 / 658.30 / 655.50