Daily Market Report 04/29/14

GOLD

Gold continues to trade above and below the important $1,300 per ounce level. Today, the Gold price ranged from $1,286 to $1,302 per ounce on average volume. The Federal Reserve starts a two-day policy meeting later today and they are expected to reduce its monthly bond purchase program for the fourth time in a row. They are also expected to provide an update of their view of the economy. Gold can be move up or down based on any change or any indication of possible changes in Fed policy.

At 11am PDT today, Gold is trading at $1,296, down $2 per ounce on light volume.

SILVER

In early morning Asian trading, Silver traded down to a low of $19.30 per ounce on light volume. At 11am PDT today, Silver is down $0.11 per ounce, trading at $19.50 per ounce.