Markets Awaiting News from Federal Reserve

GOLD

Gold traded today between $1,484 and 1,491 per ounce, a thin $7 high/low range awaiting news tomorrow from the Federal Reserve.
The Federal Reserve report on interest rates and the chairman’s statements will give short-term direction to the financial markets.
At 11am PT today, Gold is trading at $1,490 per ounce, down $4 on good volume.

SILVER

Silver is also treading water between $17.64 and $17.84 per ounce, in a tight range awaiting the Federal Reserve announcements.
A ¼ point increase in the Fed Funds rate should be bullish for precious metals.
At 11am PT today, Silver is down $0.03 per ounce, trading at $17.84 on average volume.