Gold jumps on FOMC expected inflation rise

GOLD

Late yesterday the Federal Open Market Committee said that they expect that inflation will move up this year. This caused Gold to jump to $1,346 in after market trading. In Asian, Middle Eastern and European market Gold stayed in the $1,337 to $1,347 high/low range. At 11am PST today, Gold is trading at $1,345 per ounce, up $4 on good volume.

SILVER

Silver continues to test the $17 per ounce support level, reaching $17.08 in early trading today. At 11am PST today, Silver is down $0.10 per ounce, trading at $17.20 on good volume.

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