Gold Moves Back Above $2,300 On A Neutral Statement By The Fed

GOLD

Gold has traded above and below the key $2,300 per ounce support level. Gold did reach a low of $2,280 in European trading this morning and moved higher as trading moved into the U.S. market. The Federal Reserve said today that interest rates will remain the same in an announcement by Chair Powell.

At 11:10 am PT today, Gold is trading at $2,302 per ounce, up $6 on average volume.

SILVER

Silver traded between $26.28 to $26.69 today with light volume. A move back above $27 would be bullish, but today’s Federal announcement wasn’t helpful.

At 11am PT today, Silver is up $0.15 per ounce trading at $26.60 on light volume.