Fed Pressured To Not Raise Interest Rates On Wednesday

GOLD

Gold opened $5 higher this morning on a weaker Dollar and equity market. Today, we are seeing excellent Asian and Middle-Eastern demand for Gold, driven by a weaker U.S. Dollar and pressure being put on the Fed to not raise interest rates on Wednesday. At 11am PT today, Gold is up $7, trading at $1,247 per ounce on excellent volume.

SILVER

Silver followed Gold higher this morning, moving up $0.06 per ounce. Market analysts are looking at the Fed for an indication about Wednesday’s interest rate decision. Silver continues to build a base for a bullish move to $15 very soon. At 11am PT today, Silver is trading at $14.68, up $0.05 per ounce on average volume.