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Eurozone Still Welcoming New Members While North Korea Increases Threats

Gold and Silver bullion prices were mixed on Friday in choppy trading with the price to invest in Gold rising to $1,598.20 an ounce, while the price to invest in Silver eased to $28.23 an ounce, as the euro shows that it still has admirers even after the recent Cypriot Bank debacle. The euro zone, still has every member it started with, in fact, new nations are lining up to join the single currency. Estonia is the newest member, while Latvia will enter next year and Romania will join the year after that.
In the meantime, the new pope may soon be using the single currency in Vatican City, after an accord was reached that allows the city to use the euro as its official currency. Monaco and San Marino have entered into similar agreements, along with Andorra. Several other countries have a close relationship with the currency, like Bulgaria which operates a currency board with the euro. Kosovo and Montenegro have adopted the currency and they aren't even members of the European Union (EU), so they don't have any say on policy decisions.
Poland is anxious to become a member of the euro region and even suggests that once it is in the euro, it would take the U.K.'s position as one of the three most influential countries in Europe. Meanwhile, North Korea has reportedly put rocket units on standby status Friday, aimed at U.S. military bases in South Korea and the Pacific one day after two U.S. military stealth bombers flew over South Korea during scheduled military exercises. While North Korea is well known for issuing threats against the U.S. and its South Korean ally in the past, the sustained level of the current rhetoric is rare, say observers.
"The North Koreans have to understand that what they're doing is very dangerous," said new U.S. Defense Secretary Chuck Hagel to reporters on Thursday. "We must make clear that these provocations by the North are taken by us very seriously and we'll respond to that.

Gold Fundamental Analysis April 1, 2013 Forecast

Gold is trading at 1597.15 flat with the LME and the COMEX closed for Good Friday and the LME remaining closed on Monday for the extended Easter Holiday. The market was pressured by a bit better investor risk appetite amid a generally calm atmosphere on the first day Cyprus banks were open in two weeks. The market place had its eyes on Cyprus as banks there opened for business Thursday after an extended closure during the Cypriot banking crisis. There was concern that television cameras focused on Cypriot ATM machines could show long lines of people waiting to withdraw cash—which could in turn spook depositors in banks in other European Union countries. However, while there were lines at the ATMs in Cyprus, the overall situation was deemed mostly calm Thursday.
Also in the European Union, Italian political leaders met Thursday in an effort to form a coalition government after last month’s elections. In mid-April Italians will elect a new president. Developments on this matter will also be watched closely by the market place.
More weak economic data came out of Germany Thursday, as the jobless rate rose more than expected in March. European stocks were lower Thursday on the Cyprus and Italy worries, and the weak German economic data, while Italian and Spanish bond yields inched higher.

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GOLD CURRENT TRADE

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Our Position 

Bought 1Apr Gold on 25/03/2013

Entry: 1592

Stop  : 1578

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SILVER CURRENT TRADE

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Our Position 

Bought 1May Silver on 25/03/2013

Entry: 28.60

Stop  : 28.00

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 Do your own due diligence. 

No one knows tomorrow's price or circumstance. 
 I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader. 
I do not accept responsibility for being incorrect in my speculations on market trend. 

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