Gold Awaiting Powell's Announcement

GOLD

Gold is trading in a narrow $10 price range, between $1,762 and $1,772, as it awaits Chairman Powell’s announcement. Fed Chairman Powell will be providing an update on bond tapering and interest rates later today. At 11am PT today, Gold is trading at $1,766 per ounce, down $7 on light volume.

SILVER

Silver reached a low of $21.45 this morning during European trading. It’s surprising to see Silver at this level with inflation news coming from many of the largest countries in the world. At 11am PT today, Silver is down $0.32 per ounce, trading at $21.60 on average volume.