Gold Reaches High After Federal Reserve Press Conference
After Federal Reserve Chairman Powell’s press conference yesterday, the price of Gold reached a high of $1,325 per ounce. Why? Increasing debt, continued low interest rates and a weaker U.S. Dollar. At 11am PT today, Gold is trading at $1,321 per ounce, up $4 on good volume.
Silver reached a high of $16.14 per ounce as Gold moved towards its height. Silver will probably test its $16 support level on the first sign of weakness in the Gold price. At 11am PT today, Silver is up $0.02 per ounce, trading at $16.14 on excellent volume.