Silver and gold saw gains throughout the day yesterday amid instability in Ukraine and China. The fear related to China’s corporate debt default is a sufficient reason for investors to take their money out of equities and put it into an asset like gold which is an insurance against risk. We saw gold break above $1,370 setting new support and resistant levels. The panic that was predominately prevalent in the Chinese markets didn’t wreak havoc upon U.S. equities to the extent as expected considering the correlation between the two markets. South Africa concerns have still not faded thus lifting yesterday’s Platinum and Palladium prices .80% and .75% higher. Retail Sales for February are up .3% vs. the forecast of .2%. Initial Jobless Claims for the week ending 3/8 are down 9,000 with a reading of 315,000.
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