Traders Focus On Tomorrows Federal Reserve Press Release

GOLD

The possibility of renewed trade talks with China helped the equity, U.S. Dollar and precious metal markets. Traders are still focused on tomorrow’s Federal Reserve press release. If the Fed lowers interest rates, or starts talking about lowering rates in July, the markets would rally. Gold reached $1,350 earlier this morning, before settling back a few dollars. At 11am PT today, Gold is trading at $1,347 per ounce, up $8 on excellent volume.

SILVER

Silver broke above $15 per ounce, reaching a high of $15.08 briefly before settling back down to $15 per ounce. It would be good for Silver to stay at $15 or above for a few days to establish $15 as a new support level. At 11am PT today, Silver is trading at $15.01 per ounce, up $0.18 on excellent volume.