Gold Holding Above $2,150 As We Await Fed Update

GOLD

Gold has traded between $2,148 and $2,158 as it awaits the Federal Reserve announcement on interest rates due tomorrow. Strong consolidation and base building above the key $2,150 is very important at this point in time.

At 11am PT today, Gold is trading at $2,156, down $3 on average volume.

SILVER

Silver reached a low of $24.68 this morning in European trading before finding bargain buying. Silver needs to stay above the key $25 level to remain bullish.

At 11am PT today, Silver is down $0.14 per ounce, trading at $24.92 on normal volume.