Metal Markets Awaits Chairman Powell's Press Conference

Metal Markets Awaits Chairman Powell's Press Conference

GOLD

Today, Gold has traded above and below the key $1,950 level as it awaits Fed Chairman Powell’s policy press release and press conference. The Fed press release just came in and they raised the Fed Funds rate by ¼ percent, as expected. Gold quickly rallied above the key $1,950 level on the news. Now, comes the press conference. At 11:15am PT today, Gold is trading at $1,955 per ounce, up $15 on good volume.

SILVER

Silver moved higher this morning on fresh buying from Indian and Chinese buyers. Silver followed Gold higher moving above the $22.60 level. At 11:15am PT today, Silver is up $0.40 per ounce, trading at $22.68 on excellent volume.

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