Gold & Silver Testing Support Levels On Fed News

GOLD

Gold prices have become firmer in midday trading today. The U.S. Dollar is weaker and important outside markets are in a bullish posture. The Fed says if the economy moves on as expected, then we will be seeing rate cuts in our future. At 11am PT today, Gold is trading at $2040 per ounce, up $11.

SILVER

Silver is at a 2-week low. Silver’s price dropped significantly once investors saw the Fed rate cuts after spring as a possibility., At 11am PT today, Silver is trading at $22.56 per ounce, up $0.08.