Daily Market Report 2/19/15

GOLD

According to a record of the Jan. 27-28 Federal Open Market Committee meeting released yesterday at 2pm EST, many Fed Officials were inclined to keep zero rates longer. After that news, Gold quickly rallied $7 off the $1,200 lows and this morning’s Asian trading reached a high of $1,223 per ounce. Yesterday the U.S. producer prices index was released, showing the largest drop in more than five years in January as the cost of energy and a range of other goods tumbled, hinting at a disinflationary trend that could argue against the Federal Reserve raising interest rates. At 11am PST today, Gold is trading at $1,210 per ounce, up $9 per ounce on excellent trading volume.

SILVER

Silver moved higher after yesterday’s bullish FOMC announcement. At 11am PST today, Silver is up $0.14 per ounce, trading at $16.48 on average volume.