In the precious metals markets this week . . .

GOLD:
Monex spot gold prices opened the week at $1,433 . . . traded as high as $1,447 on Thursday and as low as $1,420 on Tuesday . . . and the Monex AM settlement price on  Friday was $1,427, down $6 for the week.  Gold support is now anticipated at $1,418, then $1,386, and then $1,323 . . . with resistance anticipated at $1,429, then $1,448, and then $1,500.

SILVER:
Monex spot silver prices opened the week at $36.08 . . . traded as high as $38.16 on Thursday and as low as $35.77 on Tuesday . . . and the Monex AM settlement price on Friday was $37.11, up $1.03 for the week.  Silver support is now anticipated at $36.83, then $36.27, and then $35.48 . . . and resistance anticipated at $37.19, then $37.67, and then $38.18.

PLATINUM:
Monex spot platinum prices opened the week at $1,752 . . . traded as high as $1,766 on Thursday and as low as $1,734 on Tuesday . . . and the Monex AM settlement price on Friday was $1,749, down $3 for the week.  Platinum support is now anticipated at $1,706, then $1,678, and then $1,636 . . . and resistance anticipated at $1,785, then $1,808, and then $1,865.

PALLADIUM:
Monex spot palladium prices opened the week at $744 . . . traded as high as $761 on Thursday and as low as $734 on Tuesday . . . and the Monex AM settlement price on Friday was $750, up $6 for the week.  Palladium support is now anticipated at $748, then $731, and then $697 . . . and resistance anticipated at $771, then $822, and then $855.

QUOTES OF THE WEEK:

From ''Trader Dan'' Norcini, in a posting on Jim Sinclair's website (www.JSMineSet.com) on March 24th:

''Unlike Silver, Gold is the main metal that most analysts and commentators look to when attempting to decipher whether or not inflation is a serious problem.  That means the reference point of gold has become a target for Central Banks which want the world to believe that they can create unlimited amounts of funny money with absolutely ZERO impact on inflation levels.  In other words, that they can conjure up wealth and produce prosperity with the electronic equivalent of a printing press and produce no serious inflationary impact by so doing.

A rising gold debunks their hubristic assertions to the contrary for it stands as a silent witness testifying against them.  This is the reason the yellow metal is despised by so many Central Banks.  It mocks their policies and displays their folly for all the world to see.  Central Bankers, being the demigods that they are, will tolerate no rivals to their claims of economic omniscience.  You see they have actually come to believe that it is their own wisdom and foresight which enables them to see through the fog that hinders and impedes our economic progress and that they are in a unique position to provide the rest of us with lasting prosperity.  They attempt to do this by basically providing or withdrawing liquidity as they in their wisdom judge best and by the setting or manipulation of interest rates.

Those of us who believe that it is free market capitalism and the industry and efforts of mankind that produce wealth and prosperity would beg to differ but that is another story altogether.  I would add that it is my opinion that the world would be better off without this plague of locusts that actually devour a nation's wealth but the fact is that they are here.''

. . . and from Richard Russell, editor of Dow Theory Letters, in remarks posted on his website on March 24th:

'' 'There is only one certainty regarding paper money -- the longer you hold it, the less it will buy in terms of real goods or real money -- gold.'  Richard Russell.

Yesterday was a banner day for the precious metals. Gold closed at an all-time high in terms of dollars. Silver moved into the 37 dollar zone for the first time since the precious metal bull market of the 1970s (today it's above 38 dollars an ounce!).

But there's a big difference between the current precious metals bull market and the bull market of the 1970s.  The 1970 bull market drew tremendous interest (I was there).  Everybody I knew (even the gold haters) were watching that bull market with keen interest, particularly during the wild 'blow off' days of the late 1970s, when silver was rocketing higher -- rising every day by 'limit up.'

In comparison, today's huge precious metal bull market is greeted with yawns, that is, if it is greeted at all.  I've been calling the current gold/silver market the 'great stealth bull market.' Ask the average man or woman on the street what's happening to precious metals, and they'll give you a blank stare and maybe a 'Duh.'  Ask them if they own any gold or silver, and they'll give you a sheepish 'Nah.'

Gold (April) closed on March 2 at 1437.40, a record high.  On March 9 silver closed at 36.04, highest since 1981.  Yesterday both marks were bettered.  Where's the excitement, where's the interest, where are the articles in the newspapers?''

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