Precious Metals FUTURES Update

Precious Metals found their feet yesterday, putting in a strong reversal counter the market sentiment. However, today’s trade will center on the FOMC announcement later on in the session.

The negative sentiment on the dollar provided some lift to metals and will continue to provide support against further weakness. If you are trading gold and silver, then you have to keep one eye on the dollar, especially around FOMC. Once again, the tone on the statement will set the direction of the market.