Gold Trading Above And Below $2,000 Per Ounce

GOLD

This morning Gold traded between $1,990 and $2,003 on Asian and European commodity exchanges. This is an important price level and it may take a few days for the exchanges to confirm the breakout. Investors await Wednesday’s monetary policy decision from the Federal Reserve. The Fed has raised rates by 5.25 percentage points since March 2022 in an effort to curb inflation.

At 11am PT today, Gold is trading at $1,997 per ounce, up $2 from yesterday’s quote.

SILVER

Silver showed more price support than Gold today, reaching a high of $23.69 before seeing some short-term profit taking. Silver is trading about $0.40 per ounce higher at this point in time.

At 11am PT today, Silver is up $0.40 per ounce, trading at $23.28 per ounce.