Gold & Silver Waiting On Fed Announcements

GOLD

Gold has traded between $1,500 and $1,511 per ounce today as it waits for the interest rate and economic announcement from the Federal Reserve. The Fed interest rate announcement and the following news conference should give precious metals a direction for the balance of the month. At 11am PT today, Gold is trading at $1,508, up $1 on average volume.

SILVER

Today, Silver is having a difficult time moving over the important $18 support level. Silver traded between $17.70 to $18 per ounce for most of the trading day on moderate volume awaiting news from the Fed. At 11am PT today, Silver is down $0.19 per ounce, trading at $17.86 on moderate volume.