| Gold prices were solidly higher in afternoon trading Wednesday, getting a good boost following a dovish FOMC statement. Gold prices were trading near steady just before the statement’s release at 2:00 p.m. Eastern time. April Comex gold is now up $15.80 at $1,246.70 an ounce. May Comex silver was last up $0.189 at $15.45 an ounce.
The U.S. Federal Reserve’s Open Market Committee (FOMC) meeting that began Tuesday and ended early Wednesday afternoon saw its statement downgrade U.S. economic growth and inflation expectations, and suggested the Fed would only raise interest rates twice this year—instead of the three or four times that some Fed watchers had expected...............................................Full Article: Source
|