GOLD

Late yesterday the Federal Open Market Committee said that they expect that inflation will move up this year. This caused Gold to jump to $1,346 in after market trading. In Asian, Middle Eastern and European market Gold stayed in the $1,337 to $1,347 high/low range. At 11am PST today, Gold is trading at $1,345 per ounce, up $4 on good volume.

SILVER

Silver continues to test the $17 per ounce support level, reaching $17.08 in early trading today. At 11am PST today, Silver is down $0.10 per ounce, trading at $17.20 on good volume.