Gold price supported by speculation of dovish Fed

GOLD

Speculation around a more dovish strategy coming from today’s Federal Reserve announcement and press conference by J. Powell was supportive for the Gold price. Gold moved to a high of $1,327 per ounce before seeing some light selling. At 11am PDT today, Gold is trading at $1,322 per ounce, up $9 on good volume.

SILVER

Silver followed Gold higher, briefly breaking above the $16.50 level. The $16.50 level has acted as a resistance level in recent trading. At 11am PDT today, Silver is up $0.20 per ounce, trading at $16.40 on excellent volume.

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