Federal Reserve Unlikely To Raise Interest Rates In 2019

GOLD

Federal Reserve Chairman Powell released a statement and gave a news conference late yesterday. He stated it is highly unlikely that the U.S. Federal Reserve would raise interest rates in 2019. After that statement both U.S. Dollar Index and the interest rates on U.S. Treasuries dropped. Gold quickly rallied $7 per ounce. Today, Gold is holding above the $1,310 per ounce level. At 11am PT today, Gold is up $6 , trading at $1,308 on good volume.

SILVER

Silver rallied with Gold, breaking above the $15.50 per ounce barrier. Silver did reach a high of $15.62 before seeing some short-term profit taking. Silver opened higher today, staying above the key $15.50 level. At 11am PT Today, Silver is trading at $15.51, up $0.17