Gold price firmer just ahead of FOMC rate decision gold silver FOMC
- Gold and silver prices are a bit higher in early U.S. trading Wednesday, as traders and investors anxiously await the conclusion of one of the most highly anticipated U.S. Federal Reserve Open Market Committee meetings in years. April gold was last up $2.20 at $1,943.50 and May silver was up $0.05 at $22.475.
The U.S. and European bank turmoil is still a dark cloud hanging over the marketplace and curtailing risk appetite. Said market analyst Craig Erlam of OANDA: "It very much feels like we're just taking one day at a time…. Every day that passes without drama is one closer to the point at which we can put the mini-banking crisis behind us. But it's still early days and investors are all too aware of that, which is why we're seeing a tentative recovery at this point.
Other U.S. economic data due for release Wednesday includes the weekly MBA mortgage applications survey and the weekly DOE liquid energy stocks report.
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