Gold Hits New All-Time Record High Of $2,795

GOLD

Yesterday, it was confirmed that the Federal Reserve will leave interest rates unchanged. Plus, at the press conference, Chairman Powell stated that they don’t need to be in a hurry to lower rates when asked about a possible rate cut in March. Gold briefly sold off on this news, reaching a low of $2,747 per ounce before rallying back to the day's highs. With Fed Chairman Powell’s statement and press conference behind us, we will see Gold reach a new all-time high. During trading early this morning in London and on the opening of U.S. trading Gold reached a high of $2,795 per ounce.
At 11am PT today, Gold is trading at $2794, up $47 from yesterday.

SILVER

If Gold continues to move higher, I expect to see Silver move above $31 per ounce and move higher from there. This morning trading Gold hit $31.83 before seeing some short-term profit-taking.
At 11am PT today, Silver is up $0.86 from yesterday, trading at $31.56.