Gold & Silver Prices Move Higher After Fed News

GOLD

Gold traded in a narrow range between $1,978 and $1,987 per ounce in overnight trading. The markets await the Federal Reserve Chairman speech and press conference this afternoon. The Fed news just came out and it's bullish for Gold. Gold immediately rallied $15 per ounce and kept on going over the key $2,000 level.

At 11:15am PT today, Gold is up $23 per ounce, at $2,003 on excellent volume.

SILVER

Silver tested the $22.50 support level in late European trading and held. Silver is trading in a narrow range as we wait for the Federal Reserve comments this afternoon. After the Fed news, Silver moved with Gold, back over the $23 per ounce level.

At 11:15am PT today, Silver is trading at $23.15 per ounce, up $0.35 on strong volume.