Pending News From The Fed Could Move Markets

GOLD

Gold appears to be forming a firm base as it trades in a tight range between $1,850 and $1,860 per ounce, both in overseas and U.S. markets. Also, both the U.S. Dollar Index and 10-year treasures are also trading in a narrow range. We expect to hear some news from the Federal Reserve this week that could move the markets. At 11 am PT today, Gold is trading at $1,854 per ounce, down $2 on average volume.

SILVER

The Silver price has shown a little more price support than Gold, as it spends most of the trading day above $25.50 per ounce. The U.S. Mint is currently sold out of 2021 1oz Silver Eagles and premiums on silver eagles have started to increase. At 11 am PT today, silver is up $0.10 per ounce, trading at $25.52 on normal volume.