Gold awaits news from the Federal Reserve<br />Daily Market Report 6/13/17

GOLD

Gold is trading in a very narrow high/low price range, awaiting news from the Federal Reserve meeting. The feeling is that they will raise interest rates by ¼ of a percent, but it’s the comments that are important. If they have a dovish tone it’s a good bet Gold/Silver will rally. At 11am PDT today, Gold is trading at $1,267 per ounce, unchanged from yesterday on average volume.

SILVER

Silver continues to show more weakness than Gold, declining about 1% on a day that Gold is unchanged. Right now, Silver has support at $16.70 per ounce and resistance at $17 per ounce. At 11am PDT today, Silver is down $0.16 per ounce, trading at $16.82 on normal volume.