Precious Metals Up Awaiting FED Announcement

The Market Gage - Dillon Gage's Precious Metals Newsletter

The FED ends their two-day meeting this afternoon with an announcement at 2pm Eastern.

No rate change is expected, so with that in mind, we see gold and silver in positive territory this morning. For sure, all eyes will be on the comments the FED shares, looking for any indication of when the next rate will be. As I indicated in my previous comments from the start of the year, I expect no rate hikes this year, bullish for the price of gold. As of the last FED meeting, Janet Yellen was calling for 2 rate hikes this year. Ms. Yellen indicated that they will be watching all the data from the U. S. and the rest of the world’s economies before making any decision on raising rates. In the absence of a rate hike today, we all turn to the next meeting in June.

Some financial advisors report physical silver continues to be an attractive investment for the retail investor as their choice over gold continues.

Gross domestic product for the first quarter to be released tomorrow at 8:30 am. GDP is expected to come in at up 0.7 percent. This would be the weakest result since the plus 0.6 percent reported in the first quarter last year. GDP is one of the primary indicators used to gauge the health of the U. S. economy.

Have a wonderful Wednesday.

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