Make Kitco Your Homepage

The Moment of Truth, It's FED week

Commentaries & Views

Gold prices have been under pressure the last few days and are now at key support just under $1,320. The way the action has been, this is becoming a must hold area or things could get ugly. Silver is in the same predicament, both searching for support and new money buyers.

This is FED week, which may influence the prices of the metals depending on what they say. We already know they are clueless and have been wrong on every decision they have ever made. They should start raising but probably won’t. The language will be key.

We expect these levels to hold and make a run to $1,377 soon. However, this is just another moment of truth in metals and I think they are up to the challenge.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

Precious Metal Charts

Follow Kitco News

Kitco Offers