Silver Soars Over $60 Per Ounce

GOLD

Gold and Silver prices are up going into Tuesday with traders eagerly anticipating the Federal Reserve’s Open Market Committee and what Fed Chair Jerome Powell will say in regards to interest rate cuts. The meeting ends Wednesday afternoon with a press conference from Powell. Most are expecting a 0.25% rate cut this week, which would provide a boost to the metals markets, though some suspect the Chairman’s comments may lean more hawkish.

At 11am PT today, Gold is trading at $4,211, up $25 today.

SILVER

While Gold is building a firm base above $4,200 per ounce, Silver is taking the lead in the precious metal factor of the financial markets. Both metals remain Bullish going into the FOMC meeting, with Silver still riding its momentum from the highs set in the last few weeks, tightening supply, and growing demand for the white metal.

Silver reached a new All-Time high of $60.60 on fresh buying in the U.S. Markets.

At 11am PT today, Silver is trading at $60.60, up $2.58 from Monday.