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Precious Metals Soar Overnight - FOMC Tomorrow

IMG Auteur
Jesse
Le Cafe Americain
Published : July 29th, 2020
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Category : GoldWire

Gold and silver rocketed higher overnight.

Gold briefly tagged the 2000 mark in its big December contract which prompted some headlines, but only 1975 in the continuous futures contract. Silver pushed above 26.

In the later trading both metals pulled back, and somewhat sharply. The lows are marked on the charts.

But for the day trading both metals finished well, with gold around 1950 and silver around 24.50.

As for stocks, they faded into the afternoon in quiet trade, going out near the lows.

Tomorrow there will be an FOMC meeting. We will hear what they have to say in the afternoon.

Let's see how the markets react to this.

Have a pleasant evening.
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