Signs Correction Is Over While Waiting On Interest Rate News

GOLD

Gold traded between $1,494 and 1,507 today as it waits for news from the Federal Reserve about interest rates tomorrow. Gold is finding fresh buying in European markets above the key $1,500 resistance/support level today. At 11am PT today, Gold is trading at $1,505 per ounce, up $3 on normal volume.

SILVER

After reaching a low of $17.72 this morning, the Silver price moved back above the key $18 per ounce level in European and U.S. trading. Demand for physical Silver, ETFs and Silver mining equities is picking up, a good sign that the recent correction is over. At 11am PT today, Silver up 0.13 per ounce, trading at $18.05 on average volume