Daily Market Report 1/27/16

GOLD

Today, Gold is trading between $1,115 and $1,123 per ounce, just below its 12-week peak. Traders and investors remain cautious ahead of today’s first policy statement of the year from the Federal Reserve. The statement is expected to give clues on the direction of interest rates. At 11am PST today, Gold is down $5, trading at $1,116 per ounce on normal volume.

SILVER

Silver showed excellent support this morning above $14.30 per ounce. A few days of consolidating its recent gains would be very healthy for the Silver price. At 11am PST today, Silver is trading at $14.40 per ounce, down $0.10 on average volume.